Summit Midstream Partners LP (SMLP) to Post FY2019 Earnings of $0.99 Per Share, US Capital Advisors Forecasts

Summit Midstream Partners LP (NYSE:SMLP) – Analysts at US Capital Advisors boosted their FY2019 earnings per share (EPS) estimates for Summit Midstream Partners in a report issued on Wednesday. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $0.99 per share for the year, up from their previous forecast of $0.94.

A number of other brokerages have also recently issued reports on SMLP. Credit Suisse Group started coverage on Summit Midstream Partners in a research report on Thursday, January 4th. They issued an “outperform” rating and a $22.00 target price for the company. BidaskClub raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. ValuEngine cut Summit Midstream Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research cut Summit Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $24.50.

Summit Midstream Partners (SMLP) traded up $0.25 on Friday, hitting $22.00. The stock had a trading volume of 181,027 shares, compared to its average volume of 162,138. The stock has a market cap of $1,590.00, a P/E ratio of 15.07 and a beta of 1.65. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. Summit Midstream Partners has a fifty-two week low of $18.30 and a fifty-two week high of $26.50.

Summit Midstream Partners (NYSE:SMLP) last issued its quarterly earnings results on Wednesday, November 1st. The pipeline company reported $1.22 earnings per share for the quarter. Summit Midstream Partners had a return on equity of 11.61% and a net margin of 24.14%.

Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA acquired a new stake in Summit Midstream Partners during the 3rd quarter worth approximately $105,000. Alliancebernstein L.P. lifted its position in Summit Midstream Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock worth $227,000 after acquiring an additional 560 shares during the period. Institutional & Family Asset Management LLC acquired a new stake in Summit Midstream Partners during the 3rd quarter worth approximately $309,000. Stifel Financial Corp lifted its position in Summit Midstream Partners by 97.4% during the 2nd quarter. Stifel Financial Corp now owns 22,140 shares of the pipeline company’s stock worth $501,000 after acquiring an additional 10,925 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in Summit Midstream Partners by 4.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock worth $560,000 after acquiring an additional 989 shares during the period. 48.77% of the stock is owned by institutional investors.

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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.

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