Summit Midstream Partners LP (NYSE:SMLP) Given Consensus Rating of “Hold” by Analysts

Summit Midstream Partners LP (NYSE:SMLP) has been assigned an average rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $4.08.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a research report on Tuesday, May 26th. ValuEngine cut Summit Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, June 17th. Finally, US Capital Advisors cut Summit Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, April 21st.

Several institutional investors and hedge funds have recently bought and sold shares of the company. CNH Partners LLC increased its stake in shares of Summit Midstream Partners by 160.0% during the first quarter. CNH Partners LLC now owns 93,600 shares of the pipeline company’s stock valued at $57,000 after buying an additional 57,600 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Summit Midstream Partners during the first quarter valued at approximately $54,000. JPMorgan Chase & Co. increased its stake in shares of Summit Midstream Partners by 25.5% during the first quarter. JPMorgan Chase & Co. now owns 673,015 shares of the pipeline company’s stock valued at $411,000 after buying an additional 136,631 shares during the period. First Trust Advisors LP increased its stake in shares of Summit Midstream Partners by 59.0% during the first quarter. First Trust Advisors LP now owns 177,431 shares of the pipeline company’s stock valued at $108,000 after buying an additional 65,814 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Summit Midstream Partners during the fourth quarter valued at approximately $200,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SMLP traded down $0.02 during trading hours on Tuesday, reaching $0.99. 392,601 shares of the company’s stock traded hands, compared to its average volume of 616,529. The stock has a market cap of $100.23 million, a PE ratio of -0.24 and a beta of 3.38. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 3.26. The firm’s 50 day simple moving average is $1.19 and its 200-day simple moving average is $1.86. Summit Midstream Partners has a 12 month low of $0.50 and a 12 month high of $8.00.

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, treating, and processing services, as well as crude oil and produced water gathering services.

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Analyst Recommendations for Summit Midstream Partners (NYSE:SMLP)

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