Summit Midstream Partners Hits New 12-Month High at $54.30 (SMLP)
Shares of Summit Midstream Partners (NASDAQ:SMLP) hit a new 52-week high during trading on Thursday , Analyst Ratings Network reports. The stock traded as high as $54.30 and last traded at $53.72, with a volume of 22,323 shares trading hands. The stock had previously closed at $52.08.
A number of analysts have recently weighed in on SMLP shares. Analysts at Barclays reiterated an “overweight” rating on shares of Summit Midstream Partners in a research note on Monday, August 11th. They now have a $55.00 price target on the stock, up previously from $53.00. Separately, analysts at RBC Capital raised their price target on shares of Summit Midstream Partners from $50.00 to $53.00 in a research note on Monday, August 11th. Finally, 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. Four research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $51.90.
The stock has a 50-day moving average of $50.61 and a 200-day moving average of $45.22. The company has a market cap of $3.181 billion and a price-to-earnings ratio of 99.96.
Summit Midstream Partners (NASDAQ:SMLP) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.17. The company had revenue of $80.80 million for the quarter, compared to the consensus estimate of $83.90 million. Analysts expect that Summit Midstream Partners will post $0.61 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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