Summit Midstream Partners (NYSE:SMLP) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Monday.

SMLP has been the topic of a number of other reports. BidaskClub upgraded shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Summit Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $25.50.

Shares of Summit Midstream Partners (NYSE SMLP) traded up $0.75 on Monday, hitting $20.50. 293,485 shares of the stock were exchanged, compared to its average volume of 186,214. Summit Midstream Partners has a fifty-two week low of $18.30 and a fifty-two week high of $26.50. The firm has a market cap of $1,440.00, a price-to-earnings ratio of 11.90 and a beta of 1.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84.

Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA purchased a new position in Summit Midstream Partners during the 3rd quarter worth $105,000. Alliancebernstein L.P. purchased a new position in Summit Midstream Partners during the 1st quarter worth $227,000. Proficio Capital Partners LLC purchased a new position in Summit Midstream Partners during the 2nd quarter worth $242,000. Global X Management Co. LLC grew its position in Summit Midstream Partners by 11.1% during the 2nd quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock worth $343,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Institutional & Family Asset Management LLC purchased a new position in Summit Midstream Partners during the 3rd quarter worth $309,000. 48.77% of the stock is currently owned by institutional investors.

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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.

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

Analyst Recommendations for Summit Midstream Partners (NYSE:SMLP)

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