Research Analysts Offer Predictions for SMC FY2027 Earnings

Summit Midstream Partners, LP (NYSE:SMC) – Noble Financial cut their FY2027 earnings estimates for shares of Summit Midstream Partners in a research report issued on Thursday, April 2nd. Noble Financial analyst M. Reichman now expects that the company will post earnings per share of $0.96 for the year, down from their previous forecast of $1.07. Noble Financial currently has a “Outperform” rating and a $47.00 price target on the stock.

Other analysts have also recently issued reports about the company. Zacks Research raised Summit Midstream Partners to a “hold” rating in a research report on Friday, December 19th. Summit Redstone set a $47.00 price objective on Summit Midstream Partners in a research report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Midstream Partners in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.00.

Summit Midstream Partners Stock Performance

Shares of NYSE SMC opened at $29.67 on Friday. The company has a 50 day simple moving average of $29.88 and a two-hundred day simple moving average of $26.18. Summit Midstream Partners has a fifty-two week low of $19.13 and a fifty-two week high of $35.26. The company has a market capitalization of $562.86 million, a price-to-earnings ratio of -8.15 and a beta of 0.85.

Summit Midstream Partners (NYSE:SMC) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.96). The company had revenue of $142.29 million for the quarter, compared to analyst estimates of $150.07 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Summit Midstream Partners during the second quarter valued at approximately $25,000. New York State Common Retirement Fund bought a new stake in shares of Summit Midstream Partners during the second quarter valued at approximately $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Summit Midstream Partners by 5,417.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,517 shares of the company’s stock worth $135,000 after acquiring an additional 5,417 shares during the last quarter. Deutsche Bank AG purchased a new position in Summit Midstream Partners in the 4th quarter worth approximately $186,000. Finally, Goldman Sachs Group Inc. bought a new position in Summit Midstream Partners in the 4th quarter valued at approximately $215,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

Summit Midstream Partners Company Profile

Summit Midstream Partners is a publicly traded master limited partnership that provides gathering, compression, processing and transportation services for natural gas, natural gas liquids (NGLs) and crude oil in key U.S. onshore basins. The company’s assets include a network of intrastate and interstate pipelines, processing plants, fractionators and storage facilities designed to serve producers, marketers and end users throughout the Appalachian, Gulf Coast, Mid-Continent and Western Canadian Sedimentary basins.

In the Appalachian region, Summit operates extensive gathering lines and multiple gas-processing complexes connected to the Mountaineer NGL Hub, one of the largest fractionation and storage hubs in the Mid-Atlantic.