Wall Street analysts expect that Summit Midstream Partners, LP (NYSE:SMLP) will announce $99.72 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Summit Midstream Partners,’s earnings, with estimates ranging from $99.53 million to $99.90 million. Summit Midstream Partners, reported sales of $89.64 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.

According to Zacks, analysts expect that Summit Midstream Partners, will report full year sales of $99.72 million for the current financial year, with estimates ranging from $445.80 million to $454.00 million. For the next year, analysts anticipate that the company will report sales of $462.97 million per share, with estimates ranging from $451.30 million to $474.63 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Summit Midstream Partners,.

Several research firms have recently commented on SMLP. Barclays PLC cut Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $25.00 to $24.00 in a research note on Tuesday. Zacks Investment Research cut Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub raised Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $28.00 target price on shares of Summit Midstream Partners, in a research note on Tuesday, June 6th. Finally, ValuEngine raised Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. acquired a new position in Summit Midstream Partners, during the first quarter valued at $227,000. Stifel Financial Corp acquired a new position in Summit Midstream Partners, during the first quarter valued at $269,000. South Texas Money Management Ltd. acquired a new position in Summit Midstream Partners, during the first quarter valued at $277,000. Baird Financial Group Inc. raised its position in Summit Midstream Partners, by 1.9% in the first quarter. Baird Financial Group Inc. now owns 13,710 shares of the pipeline company’s stock valued at $329,000 after buying an additional 250 shares in the last quarter. Finally, Texas Yale Capital Corp. acquired a new position in Summit Midstream Partners, during the first quarter valued at $442,000. Hedge funds and other institutional investors own 50.04% of the company’s stock.

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Shares of Summit Midstream Partners, (NYSE:SMLP) opened at 23.85 on Friday. The firm’s market cap is $1.72 billion. The stock has a 50 day moving average price of $23.03 and a 200 day moving average price of $23.67. Summit Midstream Partners, has a one year low of $19.95 and a one year high of $26.50.

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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