Summit Midstream Partners LP (NYSE:SMLP) Receives Consensus Recommendation of “Hold” from Analysts

Summit Midstream Partners LP (NYSE:SMLP) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.08.

A number of brokerages have commented on SMLP. ValuEngine cut Summit Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, June 17th. Zacks Investment Research raised 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. Finally, US Capital Advisors lowered Summit Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, April 21st.

Institutional investors have recently made changes to their positions in the stock. Mariner Investment Group LLC acquired a new position in shares of Summit Midstream Partners during the 4th quarter worth approximately $50,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Summit Midstream Partners during the 1st quarter worth approximately $54,000. CNH Partners LLC lifted its holdings in Summit Midstream Partners by 160.0% in the first quarter. CNH Partners LLC now owns 93,600 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 57,600 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in Summit Midstream Partners by 42.7% in the fourth quarter. Rafferty Asset Management LLC now owns 17,595 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 5,265 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Summit Midstream Partners by 59.0% in the first quarter. First Trust Advisors LP now owns 177,431 shares of the pipeline company’s stock valued at $108,000 after acquiring an additional 65,814 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Shares of Summit Midstream Partners stock traded down $0.02 during trading on Tuesday, reaching $0.99. The company’s stock had a trading volume of 392,601 shares, compared to its average volume of 616,529. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 3.26. The company has a market cap of $100.23 million, a price-to-earnings ratio of -0.24 and a beta of 3.38. Summit Midstream Partners has a 1-year low of $0.50 and a 1-year high of $8.00. The company has a 50-day simple moving average of $1.19 and a two-hundred day simple moving average of $1.86.

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, 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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