Summit Midstream Partners LP Sets New 1-Year High at $36.73 (SMLP)
Summit Midstream Partners LP (NASDAQ:SMLP)’s share price reached a new 52-week high on Friday, Stock Ratings Network.com reports. The company traded as high as $36.73 and last traded at $34.68, with a volume of 19,305 shares traded. The stock had previously closed at $33.90.
A number of research firms have recently commented on SMLP. Analysts at Zacks downgraded shares of Summit Midstream Partners LP from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 6th. They now have a $37.80 price target on the stock. Analysts at RBC Capital initiated coverage on shares of Summit Midstream Partners LP in a research note to investors on Friday, August 2nd. They set an “outperform” rating and a $40.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $30.19.
Summit Midstream Partners LP has a 52-week low of $18.26 and a 52-week high of $35.40. The stock has a 50-day moving average of $33.34 and a 200-day moving average of $30.54. The company has a market cap of $1.787 billion and a P/E ratio of 87.60.
Summit Midstream Partners LP (NASDAQ:SMLP) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.09. The company had revenue of $59.29 million for the quarter, compared to the consensus estimate of $47.63 million.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Tuesday, November 5th. This is a positive change from Summit Midstream Partners LP’s previous quarterly dividend of $0.44.
Summit Midstream Partners, LP is engaged in owning and operating midstream energy infrastructure that is located in North America.
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