Summit Midstream Partners LP (NYSE:SMLP)’s stock price traded up 5.3% during mid-day trading on Tuesday . The company traded as high as $4.86 and last traded at $4.81, 305,878 shares traded hands during mid-day trading. A decline of 21% from the average session volume of 389,103 shares. The stock had previously closed at $4.57.
A number of research analysts have issued reports on the company. Credit Suisse Group set a $5.00 price target on Summit Midstream Partners and gave the company a “sell” rating in a report on Friday, August 16th. Wells Fargo & Co set a $6.00 price target on Summit Midstream Partners and gave the company a “hold” rating in a report on Monday, August 12th. Zacks Investment Research downgraded Summit Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, August 16th. ValuEngine raised Summit Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their price objective on Summit Midstream Partners to $6.00 and set a “market perform” rating for the company in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $6.69.
The firm has a market capitalization of $386.21 million, a PE ratio of 80.17 and a beta of 1.64. The stock has a 50-day moving average price of $4.96 and a 200 day moving average price of $6.79. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 1.68.
Summit Midstream Partners (NYSE:SMLP) last posted its quarterly earnings data on Friday, August 9th. The pipeline company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.19). The business had revenue of $99.69 million during the quarter, compared to analysts’ expectations of $108.50 million. Summit Midstream Partners had a net margin of 13.00% and a return on equity of 12.35%. As a group, equities analysts predict that Summit Midstream Partners LP will post 0.32 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Summit Midstream Partners during the second quarter worth approximately $78,000. Private Advisor Group LLC purchased a new stake in shares of Summit Midstream Partners during the second quarter worth approximately $120,000. Perella Weinberg Partners Capital Management LP purchased a new stake in shares of Summit Midstream Partners during the second quarter worth approximately $145,000. Wiley BROS. Aintree Capital LLC purchased a new stake in shares of Summit Midstream Partners during the third quarter worth approximately $208,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Summit Midstream Partners during the second quarter worth approximately $222,000. Institutional investors and hedge funds own 30.55% of the company’s stock.
Summit Midstream Partners Company Profile (NYSE:SMLP)
Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, treating, and processing services, as well as crude oil and produced water gathering services.
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