Summit Midstream Partners (NYSE:SMLP) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Summit Midstream Partners (NYSE:SMLPFree Report) in a report published on Sunday morning. The brokerage issued a strong-buy rating on the pipeline company’s stock.

Summit Midstream Partners Trading Down 1.5 %

Shares of Summit Midstream Partners stock opened at $33.93 on Friday. The business has a fifty day simple moving average of $33.57 and a two-hundred day simple moving average of $25.43. Summit Midstream Partners has a 1 year low of $13.00 and a 1 year high of $36.78. The company has a market capitalization of $353.55 million, a price-to-earnings ratio of 4.73 and a beta of 2.41. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.64 and a quick ratio of 2.64.

Summit Midstream Partners (NYSE:SMLPGet Free Report) last posted its earnings results on Thursday, May 2nd. The pipeline company reported $16.36 earnings per share for the quarter. Summit Midstream Partners had a return on equity of 25.67% and a net margin of 23.24%. The company had revenue of $118.87 million during the quarter.

Insider Buying and Selling

In other Summit Midstream Partners news, Director Jerry L. Peters sold 10,000 shares of Summit Midstream Partners stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $34.03, for a total value of $340,300.00. Following the transaction, the director now owns 30,239 shares in the company, valued at $1,029,033.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Trading of Summit Midstream Partners

A number of hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in shares of Summit Midstream Partners in the fourth quarter worth approximately $48,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Summit Midstream Partners in the fourth quarter worth approximately $232,000. Finally, Cetera Advisors LLC lifted its stake in shares of Summit Midstream Partners by 3.5% in the first quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock worth $377,000 after acquiring an additional 450 shares during the period. 42.97% of the stock is owned by institutional investors and hedge funds.

Summit Midstream Partners Company Profile

(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 and freshwater delivery services.

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