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

StockNews.com began coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a research note issued to investors on Saturday. The brokerage issued a strong-buy rating on the pipeline company’s stock.

Summit Midstream Partners Trading Down 0.0 %

Shares of NYSE:SMLP opened at $35.56 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.51. Summit Midstream Partners has a 12-month low of $13.00 and a 12-month high of $36.78. The business has a 50 day moving average of $32.54 and a two-hundred day moving average of $24.50. The company has a market capitalization of $370.54 million, a PE ratio of 4.96 and a beta of 2.37.

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

Insider Buying and Selling at Summit Midstream Partners

In related news, Director Jerry L. Peters sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 30,239 shares in the company, valued at approximately $1,029,033.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.30% of the company’s stock.

Institutional Trading of Summit Midstream Partners

Large investors have recently made changes to their positions in the company. Cetera Advisors LLC boosted its stake in Summit Midstream Partners by 3.5% during the 1st quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock worth $377,000 after purchasing an additional 450 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Summit Midstream Partners during the 4th quarter valued at about $48,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Summit Midstream Partners during the 4th quarter valued at about $232,000. 42.97% of the stock is currently 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, compression, treating, and processing services, as well as crude oil and produced water gathering and freshwater delivery services.