Summit Midstream Partners (NYSE:SMLP) Share Price Crosses Above Two Hundred Day Moving Average of $19.42

Summit Midstream Partners, LP (NYSE:SMLP)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $19.42 and traded as high as $28.19. Summit Midstream Partners shares last traded at $28.19, with a volume of 11,478 shares traded.

Summit Midstream Partners Trading Down 0.2 %

The business has a 50 day moving average of $21.82 and a 200-day moving average of $19.42. The stock has a market cap of $293.74 million, a PE ratio of -4.61 and a beta of 2.33. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 2.34.

Summit Midstream Partners (NYSE:SMLP) last posted its quarterly earnings data on Friday, March 15th. The pipeline company reported ($1.29) EPS for the quarter. Summit Midstream Partners had a negative net margin of 8.49% and a negative return on equity of 4.72%. The company had revenue of $127.32 million for the quarter.

Insider Buying and Selling

In other news, insider James David Johnston sold 3,300 shares of Summit Midstream Partners stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.25, for a total value of $66,825.00. Following the completion of the sale, the insider now owns 22,850 shares of the company’s stock, valued at $462,712.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 8,000 shares of company stock worth $179,459. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Summit Midstream Partners

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in Summit Midstream Partners by 3.7% in the fourth quarter. Royal Bank of Canada now owns 19,969 shares of the pipeline company’s stock valued at $358,000 after acquiring an additional 713 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Summit Midstream Partners in the 4th quarter valued at about $48,000. Goldman Sachs Group Inc. lifted its stake in shares of Summit Midstream Partners by 8.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 290,075 shares of the pipeline company’s stock valued at $5,195,000 after purchasing an additional 23,260 shares in the last quarter. UBS Group AG grew its holdings in shares of Summit Midstream Partners by 34.9% during the 4th quarter. UBS Group AG now owns 14,980 shares of the pipeline company’s stock worth $268,000 after purchasing an additional 3,879 shares during the period. Finally, Pekin Hardy Strauss Inc. acquired a new stake in Summit Midstream Partners during the 4th quarter worth approximately $232,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

About Summit Midstream Partners

Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, compression, treating, and processing services, as well as crude oil and produced water gathering and freshwater delivery services.