Summit Midstream Partners (NYSE:SMLP) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a report released on Wednesday. The firm set a “strong-buy” rating on the pipeline company’s stock.

Summit Midstream Partners Trading Up 3.7 %

Shares of Summit Midstream Partners stock opened at $38.05 on Wednesday. The firm has a 50-day moving average of $34.60 and a 200-day moving average of $27.47. The stock has a market cap of $405.23 million, a PE ratio of 5.31 and a beta of 2.41. Summit Midstream Partners has a 52-week low of $13.00 and a 52-week high of $38.05. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.64 and a current ratio of 2.64.

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

Insider Buying and Selling at Summit Midstream Partners

In other Summit Midstream Partners news, Director Jerry L. Peters sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $34.03, for a total transaction of $340,300.00. Following the completion of the sale, the director now owns 30,239 shares of the company’s stock, valued at approximately $1,029,033.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.

Institutional Trading of Summit Midstream Partners

Several institutional investors have recently made changes to their positions in the company. Pekin Hardy Strauss Inc. bought a new stake in Summit Midstream Partners in the fourth quarter worth about $232,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Summit Midstream Partners during the 2nd quarter worth approximately $386,000. Tower Research Capital LLC TRC bought a new stake in Summit Midstream Partners during the 4th quarter worth approximately $48,000. Finally, Cetera Advisors LLC grew its stake in Summit Midstream Partners by 3.5% in the 1st quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock worth $377,000 after buying an additional 450 shares in the last quarter. Institutional investors own 42.97% of the company’s stock.

Summit Midstream Partners Company Profile

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.