Summit Midstream Partners, LP (NYSE:SMLP) has been given a consensus rating of “Hold” by the nine research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.40.

A number of analysts have recently issued reports on SMLP shares. Zacks Investment Research lowered shares of Summit Midstream Partners, from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $28.00 target price on shares of Summit Midstream Partners, in a research note on Tuesday, June 6th. BidaskClub lowered shares of Summit Midstream Partners, from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 10th. ValuEngine upgraded Summit Midstream Partners, from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Barclays PLC downgraded Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $25.00 to $24.00 in a report on Tuesday, July 18th.

Summit Midstream Partners, (NYSE:SMLP) traded down 0.94% during trading on Tuesday, reaching $21.15. 177,845 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $23.08 and its 200-day moving average is $23.52. Summit Midstream Partners, has a 12-month low of $19.95 and a 12-month high of $26.50. The company’s market cap is $1.53 billion.

Summit Midstream Partners, (NYSE:SMLP) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.14. The company had revenue of $101.79 million during the quarter, compared to analyst estimates of $99.40 million. Summit Midstream Partners, had a net margin of 5.78% and a return on equity of 3.51%. Analysts predict that Summit Midstream Partners, will post ($0.21) EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.30 annualized dividend and a dividend yield of 10.87%. Summit Midstream Partners,’s payout ratio is currently 958.37%.

Several hedge funds have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. raised its stake in Summit Midstream Partners, by 7.4% in the first quarter. OppenheimerFunds Inc. now owns 8,453,965 shares of the pipeline company’s stock valued at $202,895,000 after buying an additional 583,831 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in Summit Midstream Partners, by 3.2% in the second quarter. Kayne Anderson Capital Advisors LP now owns 3,138,000 shares of the pipeline company’s stock valued at $71,068,000 after buying an additional 96,100 shares during the period. Center Coast Capital Advisors LP raised 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 valued at $33,849,000 after buying an additional 141,902 shares during the period. Morgan Stanley raised its stake in Summit Midstream Partners, by 6.4% in the first quarter. Morgan Stanley now owns 1,182,900 shares of the pipeline company’s stock valued at $28,391,000 after buying an additional 71,310 shares during the period. Finally, Bank of America Corp DE raised its stake in Summit Midstream Partners, by 65.2% in the first quarter. Bank of America Corp DE now owns 742,062 shares of the pipeline company’s stock valued at $17,809,000 after buying an additional 292,919 shares during the period. Hedge funds and other institutional investors own 49.75% of the company’s stock.

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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.

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

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