Summit Midstream Partners, LP (NYSE:SMLP) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday.

SMLP has been the topic of a number of other research reports. 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. BidaskClub raised shares of Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research report on Friday, September 8th. Robert W. Baird dropped their target price on shares of Summit Midstream Partners, from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. Finally, Barclays PLC lowered shares of Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $25.00 to $24.00 in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.83.

Shares of Summit Midstream Partners, (NYSE:SMLP) traded up 1.41% during trading on Wednesday, hitting $21.65. 115,597 shares of the company traded hands. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 91.74 and a beta of 1.70. Summit Midstream Partners, has a one year low of $19.15 and a one year high of $26.50. The firm has a 50 day moving average price of $20.88 and a 200-day moving average price of $22.42.

Summit Midstream Partners, (NYSE:SMLP) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.14. Summit Midstream Partners, had a net margin of 5.78% and a return on equity of 3.55%. The company had revenue of $101.79 million for the quarter, compared to analyst estimates of $99.40 million. Analysts predict that Summit Midstream Partners, will post $0.34 EPS for the current year.

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Several large investors have recently modified their holdings of SMLP. Stifel Financial Corp acquired a new position in Summit Midstream Partners, during the 1st quarter worth about $269,000. Neuberger Berman Group LLC acquired a new position in Summit Midstream Partners, during the 1st quarter worth about $570,000. Alliancebernstein L.P. acquired a new position in Summit Midstream Partners, during the 1st quarter worth about $227,000. Morgan Stanley lifted its position in Summit Midstream Partners, by 6.4% during the 1st 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. Finally, Bank of America Corp DE lifted its position in Summit Midstream Partners, by 65.2% during the 1st quarter. Bank of America Corp DE now owns 742,062 shares of the pipeline company’s stock worth $17,809,000 after buying an additional 292,919 shares in the last quarter. 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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