Summit Midstream Partners LP Sets New 1-Year High at $38.36 (SMLP)
Shares of Summit Midstream Partners LP (NASDAQ:SMLP) hit a new 52-week high during trading hours on Wednesday, Analyst Ratings Net reports. The company traded as high as $38.36 and last traded at $37.00, with a volume of 65,940 shares trading hands. The stock had previously closed at $36.55.
SMLP has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Summit Midstream Partners LP in a research note to investors on Wednesday, December 11th. They set a “neutral” rating on the stock. Separately, analysts at Robert W. Baird upgraded shares of Summit Midstream Partners LP from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, November 21st. Finally, analysts at Zacks upgraded shares of Summit Midstream Partners LP from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 12th. They now have a $33.40 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.68.
Summit Midstream Partners LP has a one year low of $19.54 and a one year high of $38.36. The stock’s 50-day moving average is $35.03 and its 200-day moving average is $33.81. The company has a market cap of $1.961 billion and a price-to-earnings ratio of 98.52.
Summit Midstream Partners LP (NASDAQ:SMLP) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.12 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.17. The company had revenue of $63.10 million for the quarter, compared to the consensus estimate of $65.84 million. On average, analysts predict that Summit Midstream Partners LP will post $1.00 earnings per share for the current fiscal year.
Summit Midstream Partners, LP is engaged in owning and operating midstream energy infrastructure that is located in North America.
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