Summit Midstream Partners, LP (NYSE:SMLP) had its price target lowered by investment analysts at Robert W. Baird from $28.00 to $27.00 in a report issued on Friday. The firm currently has an “outperform” rating on the pipeline company’s stock. Robert W. Baird’s target price would suggest a potential upside of 28.88% from the stock’s current price.

SMLP has been the topic of a number of other research reports. Zacks Investment Research lowered Summit Midstream Partners, from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $28.00 target price on shares of Summit Midstream Partners, in a research note on Tuesday, June 6th. BidaskClub lowered Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Barclays PLC lowered Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $25.00 to $24.00 in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $26.17.

Summit Midstream Partners, (NYSE:SMLP) traded down 1.64% during midday trading on Friday, hitting $20.95. The company had a trading volume of 366,306 shares. The stock has a market cap of $1.53 billion, a PE ratio of 88.77 and a beta of 1.71. Summit Midstream Partners, has a 52-week low of $19.95 and a 52-week high of $26.50. The stock’s 50-day moving average price is $22.94 and its 200-day moving average price is $23.33.

Summit Midstream Partners, (NYSE:SMLP) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.14. Summit Midstream Partners, had a return on equity of 3.55% and a net margin of 5.78%. The firm had revenue of $101.79 million for the quarter, compared to analyst estimates of $99.40 million. On average, equities research analysts expect that Summit Midstream Partners, will post ($0.55) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. raised its position in shares of Summit Midstream Partners, by 7.4% in the first quarter. OppenheimerFunds Inc. now owns 8,453,965 shares of the pipeline company’s stock worth $202,895,000 after buying an additional 583,831 shares in the last quarter. HMI Capital LLC raised its position in shares of Summit Midstream Partners, by 13.0% in the second quarter. HMI Capital LLC now owns 5,114,309 shares of the pipeline company’s stock worth $115,839,000 after buying an additional 588,085 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of 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 worth $71,068,000 after buying an additional 96,100 shares in the last quarter. Center Coast Capital Advisors LP raised its position in shares of 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 in the last quarter. Finally, Morgan Stanley raised its position in shares of Summit Midstream Partners, by 6.4% in the first quarter. Morgan Stanley now owns 1,182,900 shares of the pipeline company’s stock worth $28,391,000 after buying an additional 71,310 shares in the last quarter. 49.75% of the stock is currently owned by institutional investors.

About Summit Midstream Partners,

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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