Summit Midstream Partners, LP (SMLP) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Summit Midstream Partners, LP (NYSE:SMLP) from a sell rating to a hold rating in a report issued on Wednesday morning.

SMLP has been the subject of several other reports. Zacks Investment Research cut Summit Midstream Partners, from a buy rating to a hold rating in a research note on Thursday, August 3rd. BidaskClub upgraded Summit Midstream Partners, from a sell rating to a hold rating in a research note on Friday, September 8th. Robert W. Baird cut their target price on Summit Midstream Partners, from $28.00 to $27.00 and set an outperform rating for the company in a research note on Friday, August 11th. Finally, Barclays PLC cut Summit Midstream Partners, from an equal weight rating to an underweight rating and cut their target price for the stock from $25.00 to $24.00 in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Summit Midstream Partners, has an average rating of Hold and an average target price of $25.83.

Summit Midstream Partners, (NYSE SMLP) traded down 0.46% during midday trading on Wednesday, reaching $21.55. The company had a trading volume of 20,912 shares. The stock has a market cap of $1.57 billion, a P/E ratio of 91.31 and a beta of 1.70. Summit Midstream Partners, has a 12 month low of $19.15 and a 12 month high of $26.50. The firm has a 50-day moving average of $20.88 and a 200-day moving average of $22.42.

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Summit Midstream Partners, (NYSE:SMLP) last released its earnings results on Thursday, August 3rd. The pipeline company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.14. Summit Midstream Partners, had a return on equity of 3.55% and a net margin of 5.78%. The firm had revenue of $101.79 million during the quarter, compared to analysts’ expectations of $99.40 million. On average, equities analysts expect that Summit Midstream Partners, will post $0.34 EPS for the current fiscal year.

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Large investors have recently made changes to their positions in the company. Evergreen Capital Management LLC increased its holdings in shares of Summit Midstream Partners, by 27.4% during the second quarter. Evergreen Capital Management LLC now owns 350,185 shares of the pipeline company’s stock worth $7,932,000 after buying an additional 75,390 shares in the last quarter. HMI Capital LLC increased its holdings in shares of Summit Midstream Partners, by 13.0% during the second quarter. HMI Capital LLC now owns 5,114,309 shares of the pipeline company’s stock worth $115,839,000 after buying an additional 588,085 shares in the last quarter. Morgan Stanley increased its holdings in shares of Summit Midstream Partners, by 6.4% during the first quarter. Morgan Stanley now owns 1,182,900 shares of the pipeline company’s stock worth $28,391,000 after buying an additional 71,310 shares in the last quarter. Arrow Investment Advisors LLC acquired a new position in shares of Summit Midstream Partners, during the second quarter worth $669,000. Finally, Global X Management Co. LLC increased its holdings in shares of Summit Midstream Partners, by 11.1% during the second quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock worth $343,000 after buying an additional 1,514 shares in the last quarter. Institutional investors own 49.82% of the company’s stock.

About Summit Midstream Partners,

Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.

Analyst Recommendations for Summit Midstream Partners, (NYSE:SMLP)

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