Summit Midstream Partners (NYSE:SMLP) Stock Passes Above 200-Day Moving Average of $16.90

Summit Midstream Partners, LP (NYSE:SMLPGet Free Report)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.90 and traded as high as $19.79. Summit Midstream Partners shares last traded at $19.39, with a volume of 81,704 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Summit Midstream Partners from a “hold” rating to a “buy” rating in a research note on Monday, November 6th.

Check Out Our Latest Stock Analysis on SMLP

Summit Midstream Partners Stock Down 1.3 %

The company has a market capitalization of $200.23 million, a P/E ratio of -2.74 and a beta of 2.23. The firm’s 50 day moving average price is $17.25 and its two-hundred day moving average price is $16.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.24.

Institutional Investors Weigh In On Summit Midstream Partners

Large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its holdings in shares of Summit Midstream Partners by 1,773.7% in the 2nd quarter. Osaic Holdings Inc. now owns 2,211 shares of the pipeline company’s stock valued at $36,000 after buying an additional 2,093 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Summit Midstream Partners during the 4th quarter valued at $48,000. Acadian Asset Management LLC acquired a new stake in Summit Midstream Partners during the 1st quarter valued at $66,000. UBS Group AG lifted its holdings in Summit Midstream Partners by 9.0% during the 2nd quarter. UBS Group AG now owns 13,502 shares of the pipeline company’s stock valued at $172,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in Summit Midstream Partners during the 3rd quarter valued at $209,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

About Summit Midstream Partners

(Get Free Report)

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 services.

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