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Summit Midstream Partners LP (NASDAQ:SMLP) shares reached a new 52-week high on Wednesday , Stock Ratings reports. The stock traded as high as $40.00 and last traded at $38.55, with a volume of 23,120 shares traded. The stock had previously closed at $38.62.

A number of research firms have recently commented on SMLP. Analysts at Goldman Sachs initiated coverage on shares of Summit Midstream Partners LP in a research note on Wednesday, December 11th. They set a “neutral” rating on the stock. Analysts at Robert W. Baird upgraded shares of Summit Midstream Partners LP from a “neutral” rating to an “outperform” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.68.

The stock has a 50-day moving average of $37.28 and a 200-day moving average of $34.34. The company has a market cap of $2.079 billion and a P/E ratio of 104.10.

The company also recently announced a quarterly dividend, which is scheduled for Friday, February 14th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Wednesday, February 5th. This is a boost from Summit Midstream Partners LP’s previous quarterly dividend of $0.46.

Summit Midstream Partners, LP is engaged in owning and operating midstream energy infrastructure that is located in North America.

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