Summit Midstream Partners Sets New 52-Week High at $49.98 (SMLP)
Summit Midstream Partners (NASDAQ:SMLP) shares reached a new 52-week high during trading on Friday , StockRatingsNetwork reports. The company traded as high as $49.98 and last traded at $49.77, with a volume of 34,118 shares trading hands. The stock had previously closed at $48.91.
A number of analysts have recently weighed in on SMLP shares. Analysts at Citigroup Inc. initiated coverage on shares of Summit Midstream Partners in a research note on Wednesday. They set a “buy” rating and a $54.50 price target on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Summit Midstream Partners in a research note on Friday, May 23rd. They now have a $50.00 price target on the stock, up previously from $44.00. Finally, analysts at Goldman Sachs upgraded shares of Summit Midstream Partners from a “neutral” rating to a “buy” rating in a research note on Friday, May 16th. They now have a $52.00 price target on the stock, up previously from $43.00. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $47.48.
The stock has a 50-day moving average of $45.62 and a 200-day moving average of $40.72. The company has a market cap of $2.890 billion and a price-to-earnings ratio of 77.39.
Summit Midstream Partners (NASDAQ:SMLP) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $0.08 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.17. Analysts expect that Summit Midstream Partners will post $0.76 EPS 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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