Summit Midstream Partners, LP (NYSE:SMLP) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other research analysts have also issued reports on the stock. Robert W. Baird cut their price target on shares of Summit Midstream Partners, from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, August 11th. 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. Citigroup Inc. restated a “neutral” rating and set a $24.00 price target (up previously from $22.00) on shares of Summit Midstream Partners, in a research note on Monday, July 24th. Barclays PLC lowered shares of Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $25.00 to $24.00 in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $28.00 price target on shares of Summit Midstream Partners, in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Summit Midstream Partners, presently has a consensus rating of “Hold” and an average price target of $26.17.

Shares of Summit Midstream Partners, (NYSE SMLP) opened at 21.45 on Friday. The stock has a market cap of $1.57 billion, a PE ratio of 90.89 and a beta of 1.72. The company has a 50-day moving average of $21.43 and a 200 day moving average of $22.82. Summit Midstream Partners, has a one year low of $19.15 and a one year high of $26.50.

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 firm 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 3.55%. On average, analysts predict that Summit Midstream Partners, will post $0.33 earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the company. Solaris Asset Management LLC increased its stake in shares of Summit Midstream Partners, by 32.7% in the second quarter. Solaris Asset Management LLC now owns 5,275 shares of the pipeline company’s stock worth $119,000 after acquiring an additional 1,300 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Summit Midstream Partners, in the first quarter worth $227,000. Proficio Capital Partners LLC acquired a new stake in shares of Summit Midstream Partners, in the second quarter worth $242,000. Stifel Financial Corp acquired a new stake in shares of Summit Midstream Partners, in the first quarter worth $269,000. Finally, South Texas Money Management Ltd. acquired a new stake in shares of Summit Midstream Partners, in the first quarter worth $277,000. Hedge funds and other institutional investors own 49.82% 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.

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

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