Investment analysts at Credit Suisse Group began coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a report released on Thursday, The Fly reports. The firm set an “outperform” rating on the pipeline company’s stock.

SMLP has been the subject of a number of other research reports. BidaskClub upgraded shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. ValuEngine upgraded shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded shares of Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.50.

Shares of Summit Midstream Partners (SMLP) traded up $0.15 during midday trading on Thursday, reaching $22.05. 81,437 shares of the company were exchanged, compared to its average volume of 122,633. The firm has a market capitalization of $1,610.00, a PE ratio of 15.10 and a beta of 1.65. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. Summit Midstream Partners has a 52-week low of $18.30 and a 52-week high of $26.50.

Institutional investors and hedge funds have recently made changes to their positions in the business. HMI Capital LLC lifted its stake in 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 valued at $115,839,000 after buying an additional 588,085 shares in the last quarter. Center Coast Capital Advisors LP lifted its stake in Summit Midstream Partners by 3.7% in the third quarter. Center Coast Capital Advisors LP now owns 1,445,112 shares of the pipeline company’s stock valued at $28,902,000 after buying an additional 51,396 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Summit Midstream Partners by 3.3% in the third quarter. Evergreen Capital Management LLC now owns 361,700 shares of the pipeline company’s stock valued at $7,234,000 after buying an additional 11,515 shares in the last quarter. Arrow Investment Advisors LLC bought a new position in Summit Midstream Partners in the second quarter valued at approximately $669,000. Finally, Goldman Sachs Group Inc. lifted its stake in 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 buying an additional 36,213 shares in the last quarter. 48.77% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Summit Midstream Partners (SMLP) Earns Outperform Rating from Analysts at Credit Suisse Group” was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/04/summit-midstream-partners-smlp-earns-outperform-rating-from-analysts-at-credit-suisse-group.html.

About Summit Midstream Partners

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.

The Fly

Analyst Recommendations for Summit Midstream Partners (NYSE:SMLP)

Receive News & Ratings for Summit Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.