Summit Midstream Shares Rise on Inaugural $35M Buyback Program

Dow Jones

Jun 01

By Adriano Marchese

Summit Midstream shares rose Monday morning after the company said it plans to launch a buyback program for $35 million in stock, the company's first repurchase program.

Shares jumped 13% to $30.23.

The midstream energy infrastructure firm said the board of directors authorized the inaugural stock repurchase program, reflecting its confidence in the company's financial strength and balance sheet improvements.

"Having repaid all arrears on our Series A Preferred Stock and supported by our improving free cash flow profile and financial flexibility, we are now in a position to utilize a common stock buyback program as a tool to ensure liquidity and support the secondary market of the shares," Chief Executive Heath Deneke said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

June 01, 2026 10:56 ET (14:56 GMT)

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