Summit Midstream Partners Sets New 52-Week High at $51.97 (SMLP)
Summit Midstream Partners (NASDAQ:SMLP) reached a new 52-week high on Tuesday , American Banking News reports. The stock traded as high as $51.97 and last traded at $51.47, with a volume of 43,745 shares. The stock had previously closed at $50.85.
A number of research firms have recently commented on SMLP. Analysts at Citigroup Inc. initiated coverage on shares of Summit Midstream Partners in a research note on Wednesday, June 18th. 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 investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.48.
The stock’s 50-day moving average is $46.71 and its 200-day moving average is $41.67. The company has a market cap of $3.030 billion and a price-to-earnings ratio of 80.46.
Summit Midstream Partners (NASDAQ:SMLP) last announced its earnings results on Tuesday, May 27th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.17. On average, analysts predict that Summit Midstream Partners will post $0.76 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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