Summit Midstream Partners, LP (NYSE:SMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.

According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “

Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Summit Midstream Partners, from a “strong sell” rating to a “sell” rating in a report on Thursday. ValuEngine lowered shares of Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Saturday, May 27th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Summit Midstream Partners, in a research note on Tuesday, June 6th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $25.00 price objective (down previously from $27.00) on shares of Summit Midstream Partners, in a research note on Tuesday, March 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $28.40.

Analyst Recommendations for Summit Midstream Partners, (NYSE:SMLP)

Summit Midstream Partners, (NYSE:SMLP) traded up 1.054% during midday trading on Friday, reaching $21.575. The company had a trading volume of 143,210 shares. The company’s 50 day moving average is $23.10 and its 200-day moving average is $23.73. The company’s market capitalization is $1.56 billion. Summit Midstream Partners, has a 52-week low of $19.96 and a 52-week high of $26.50.

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Large investors have recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP increased its stake in Summit Midstream Partners, by 28.9% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,041,900 shares of the pipeline company’s stock worth $72,998,000 after buying an additional 681,800 shares during the last quarter. Center Coast Capital Advisors LP increased its stake in Summit Midstream Partners, by 11.2% in the first quarter. Center Coast Capital Advisors LP now owns 1,410,381 shares of the pipeline company’s stock worth $33,849,000 after buying an additional 141,902 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Summit Midstream Partners, by 5.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 565,626 shares of the pipeline company’s stock worth $13,575,000 after buying an additional 31,673 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in Summit Midstream Partners, by 1.9% in the first quarter. HITE Hedge Asset Management LLC now owns 146,983 shares of the pipeline company’s stock worth $3,528,000 after buying an additional 2,694 shares during the last quarter. Finally, Texas Yale Capital Corp. bought a new stake in Summit Midstream Partners, during the first quarter worth about $442,000. Institutional investors own 49.98% of the company’s stock.

Summit Midstream Partners, Company Profile

Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.

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