Summit Midstream Partners, LP (NYSE:SMLP) has earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $25.67.

A number of analysts have weighed in on the stock. BidaskClub cut shares of Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Summit Midstream Partners, from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Saturday. ValuEngine raised shares of Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Robert W. Baird decreased 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 note on Friday, August 11th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $24.00 target price (up previously from $22.00) on shares of Summit Midstream Partners, in a research note on Monday, July 24th.

Several institutional investors have recently modified their holdings of the stock. HMI Capital LLC grew its stake 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 purchasing an additional 588,085 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake 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 purchasing an additional 96,100 shares during the last quarter. Morgan Stanley grew its stake 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 purchasing an additional 71,310 shares during the last quarter. Goldman Sachs Group Inc. grew its stake 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 worth $24,197,000 after purchasing an additional 36,213 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of 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 worth $17,809,000 after purchasing an additional 292,919 shares during the last quarter. 49.82% of the stock is currently owned by institutional investors.

Summit Midstream Partners, (SMLP) traded up 0.97% during midday trading on Friday, reaching $20.85. The company had a trading volume of 72,703 shares. The stock’s 50 day moving average is $20.98 and its 200 day moving average is $22.31. The company has a market capitalization of $1.52 billion, a PE ratio of 80.19 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.

Summit Midstream Partners, (NYSE:SMLP) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.12 EPS for the quarter, beating the 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 business had revenue of $101.79 million during the quarter, compared to the consensus estimate of $99.40 million. Equities research analysts forecast that Summit Midstream Partners, will post $0.34 earnings per share for the current fiscal year.

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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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