Shares of Summit Midstream Partners LP (NYSE:SMLP) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.21.
Several brokerages recently issued reports on SMLP. Credit Suisse Group set a $5.00 price objective on Summit Midstream Partners and gave the company a “sell” rating in a research report on Friday, August 16th. Wells Fargo & Co set a $6.00 price objective on Summit Midstream Partners and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays reiterated a “sell” rating and issued a $4.00 price objective on shares of Summit Midstream Partners in a research report on Wednesday, October 16th. SunTrust Banks reduced their price target on Summit Midstream Partners from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, October 15th. Finally, Zacks Investment Research raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th.
Shares of SMLP traded up $0.11 on Monday, hitting $3.98. The company’s stock had a trading volume of 346,385 shares, compared to its average volume of 370,657. The company has a quick ratio of 0.23, a current ratio of 0.26 and a debt-to-equity ratio of 1.80. The firm’s fifty day moving average price is $4.69 and its 200-day moving average price is $6.24. Summit Midstream Partners has a fifty-two week low of $3.79 and a fifty-two week high of $14.45. The firm has a market capitalization of $320.06 million, a price-to-earnings ratio of 66.33 and a beta of 1.66.
Summit Midstream Partners (NYSE:SMLP) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.37). Summit Midstream Partners had a negative net margin of 0.88% and a positive return on equity of 6.81%. The business had revenue of $100.19 million during the quarter, compared to analyst estimates of $115.74 million. As a group, equities analysts predict that Summit Midstream Partners will post 0.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a yield of 28.84%. The ex-dividend date of this dividend was Wednesday, November 6th. Summit Midstream Partners’s dividend payout ratio (DPR) is currently 1,916.67%.
A number of large investors have recently added to or reduced their stakes in SMLP. Arrow Investment Advisors LLC boosted its holdings in shares of Summit Midstream Partners by 46.9% in the 3rd quarter. Arrow Investment Advisors LLC now owns 61,267 shares of the pipeline company’s stock valued at $298,000 after buying an additional 19,565 shares during the last quarter. Creative Planning boosted its holdings in shares of Summit Midstream Partners by 88.9% in the 3rd quarter. Creative Planning now owns 180,000 shares of the pipeline company’s stock valued at $875,000 after buying an additional 84,700 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Summit Midstream Partners by 6.8% in the 3rd quarter. California Public Employees Retirement System now owns 162,626 shares of the pipeline company’s stock valued at $790,000 after buying an additional 10,381 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Summit Midstream Partners in the 3rd quarter valued at approximately $97,000. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Summit Midstream Partners by 61.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 17,000 shares of the pipeline company’s stock valued at $83,000 after buying an additional 6,500 shares during the last quarter. 30.69% of the stock is owned by hedge funds and other institutional investors.
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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