Key facts
- Summit Midstream Partners, LP authorized a new share repurchase program.
- The program allows for the repurchase of up to $35 million of common units.
- The buyback program is effective immediately.
- The program will expire on December 31, 2024.
Stock repurchase programs, also known as share buybacks, are actions taken by a company to buy its own outstanding shares from the marketplace. This can reduce the number of outstanding shares, potentially increasing earnings per share and signaling management's confidence in the company's valuation.