Summit Midstream Partners LP (NYSE:SMLP) has received an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.44.

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on Summit Midstream Partners from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, September 6th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $28.00 price objective (up previously from $25.00) on shares of Summit Midstream Partners in a report on Wednesday, September 7th. Zacks Investment Research lowered Summit Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Barclays PLC lifted their price objective on Summit Midstream Partners from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, August 18th. Finally, Credit Suisse Group AG raised Summit Midstream Partners from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $27.00 to $30.00 in a report on Monday, August 8th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mosaic Family Wealth LLC increased its position in shares of Summit Midstream Partners by 112.7% in the third quarter. Mosaic Family Wealth LLC now owns 6,499 shares of the company’s stock valued at $149,000 after buying an additional 3,443 shares in the last quarter. Wedbush Securities Inc. acquired a new position in shares of Summit Midstream Partners during the third quarter valued at $229,000. Royal Bank of Canada increased its position in shares of Summit Midstream Partners by 43.8% in the second quarter. Royal Bank of Canada now owns 12,394 shares of the company’s stock valued at $283,000 after buying an additional 3,774 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Summit Midstream Partners during the third quarter valued at $307,000. Finally, SG Americas Securities LLC acquired a new position in shares of Summit Midstream Partners during the second quarter valued at $585,000.

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Shares of Summit Midstream Partners (NYSE:SMLP) opened at 22.45 on Monday. The stock’s market capitalization is $1.62 billion. The stock has a 50 day moving average price of $22.37 and a 200-day moving average price of $22.63. Summit Midstream Partners has a 52-week low of $11.06 and a 52-week high of $25.10.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, November 3rd. This represents a $2.30 annualized dividend and a dividend yield of 10.24%.

Summit Midstream Partners Company Profile

Summit Midstream Partners, LP is a limited partnership focused on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Marcellus Shale, which is served by Mountaineer Midstream; the Williston Basin, which is served by Bison Midstream; the Barnett Shale, which is served by DFW Midstream; the Piceance Basin, which is served by Grand River, and Corporate.

5 Day Chart for NYSE:SMLP

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