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

SMLP has been the topic of a number of other reports. Zacks Investment Research raised Summit Midstream Partners, from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, October 10th. Citigroup Inc. reissued a “neutral” rating and set a $24.00 price target (up from $22.00) on shares of Summit Midstream Partners, in a research note on Monday, July 24th. Robert W. Baird cut their price target on 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. ValuEngine raised Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Barclays PLC lowered 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Summit Midstream Partners, has an average rating of “Hold” and an average target price of $25.67.

Summit Midstream Partners, (SMLP) opened at 20.10 on Friday. Summit Midstream Partners, has a 12 month low of $19.15 and a 12 month high of $26.50. The firm has a market cap of $1.47 billion, a P/E ratio of 85.17 and a beta of 1.70. The company’s 50-day moving average is $20.94 and its 200 day moving average is $22.21.

Summit Midstream Partners, (NYSE:SMLP) last released its earnings results on Thursday, August 3rd. The pipeline company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $99.40 million. Equities research analysts expect that Summit Midstream Partners, will post $0.34 EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Solaris Asset Management LLC lifted 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 position in shares of Summit Midstream Partners, in the first quarter worth approximately $227,000. Proficio Capital Partners LLC acquired a new position in shares of Summit Midstream Partners, in the second quarter worth approximately $242,000. Stifel Financial Corp acquired a new position in shares of Summit Midstream Partners, in the first quarter worth approximately $269,000. Finally, Global X Management Co. LLC lifted its stake in shares of Summit Midstream Partners, by 11.1% in the second quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock worth $343,000 after acquiring an additional 1,514 shares during the period. 49.81% of the stock is currently owned by institutional investors.

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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