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

A number of other equities analysts have also weighed in on the stock. Robert W. Baird cut their target price on shares of Summit Midstream Partners, from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. Zacks Investment Research lowered shares of Summit Midstream Partners, from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Citigroup Inc. reiterated a “neutral” rating and set a $24.00 target price (up previously from $22.00) on shares of Summit Midstream Partners, in a research report on Monday, July 24th. Barclays PLC lowered shares of Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $28.00 target price on shares of Summit Midstream Partners, in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Summit Midstream Partners, has a consensus rating of “Hold” and a consensus price target of $26.17.

Summit Midstream Partners, (NYSE SMLP) traded down 0.71% during mid-day trading on Friday, reaching $21.10. 86,449 shares of the company’s stock were exchanged. The company has a 50-day moving average of $20.96 and a 200-day moving average of $22.73. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 89.41 and a beta of 1.72. Summit Midstream Partners, has a 52-week low of $19.15 and a 52-week high of $26.50.

Summit Midstream Partners, (NYSE:SMLP) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts anticipate that Summit Midstream Partners, will post $0.33 earnings per share for the current year.

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Several hedge funds have recently added to or reduced their stakes in the company. CNH Partners LLC boosted its position in shares of Summit Midstream Partners, by 18.8% in the second quarter. CNH Partners LLC now owns 31,028 shares of the pipeline company’s stock valued at $703,000 after acquiring an additional 4,900 shares during the period. Green Square Capital LLC bought a new position in shares of Summit Midstream Partners, in the second quarter valued at approximately $816,000. Castleton Investment Management LLC boosted its position in shares of Summit Midstream Partners, by 364.2% in the second quarter. Castleton Investment Management LLC now owns 95,000 shares of the pipeline company’s stock valued at $2,151,000 after acquiring an additional 74,536 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Summit Midstream Partners, by 3.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,068,307 shares of the pipeline company’s stock valued at $24,197,000 after acquiring an additional 36,213 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Summit Midstream Partners, by 97.4% in the second quarter. Stifel Financial Corp now owns 22,140 shares of the pipeline company’s stock valued at $501,000 after acquiring an additional 10,925 shares during the period. 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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