Summit Midstream Partners (NYSE:SMLP) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a report released on Sunday. The firm issued a strong-buy rating on the pipeline company’s stock.

Summit Midstream Partners Stock Performance

Shares of SMLP stock opened at $34.25 on Friday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average of $33.44 and a two-hundred day moving average of $25.37. The company has a market cap of $356.75 million, a P/E ratio of 4.78 and a beta of 2.41. Summit Midstream Partners has a 52 week low of $13.00 and a 52 week high of $36.78.

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

Insider Activity at Summit Midstream Partners

In other news, Director Jerry L. Peters sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $34.03, for a total transaction of $340,300.00. Following the completion of the transaction, the director now directly owns 30,239 shares in the company, valued at $1,029,033.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new stake in Summit Midstream Partners in the fourth quarter worth approximately $48,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Summit Midstream Partners in the 4th quarter worth $232,000. Finally, Cetera Advisors LLC lifted its holdings 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 valued at $377,000 after buying 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

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.