Summit Midstream Partners (NYSE:SMC) Given Sell (D) Rating at Weiss Ratings

Summit Midstream Partners (NYSE:SMC)‘s stock had its “sell (d)” rating reissued by research analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Summit Midstream Partners Price Performance

Shares of SMC opened at $22.20 on Friday. Summit Midstream Partners has a one year low of $19.13 and a one year high of $45.89. The company has a 50-day simple moving average of $21.66 and a two-hundred day simple moving average of $24.63. The firm has a market capitalization of $416.69 million, a PE ratio of -1.70 and a beta of 1.11.

Summit Midstream Partners (NYSE:SMC) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.66) EPS for the quarter. The business had revenue of $140.22 million for the quarter.

Hedge Funds Weigh In On Summit Midstream Partners

Large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. purchased a new position in shares of Summit Midstream Partners during the second quarter valued at approximately $25,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Summit Midstream Partners during the second quarter valued at approximately $56,000. New York State Common Retirement Fund purchased a new position in shares of Summit Midstream Partners during the second quarter valued at approximately $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Summit Midstream Partners by 5,417.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,517 shares of the company’s stock valued at $135,000 after purchasing an additional 5,417 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Summit Midstream Partners during the first quarter valued at approximately $213,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

About Summit Midstream Partners

Summit Midstream Corporation focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. It operates natural gas, crude oil, and produced water gathering systems in four unconventional resource basins, including the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin that consists of the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which comprises the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the Mesaverde formation, as well as the emerging Mancos and Niobrara Shale formations.