HMI Capital LLC increased its holdings in Summit Midstream Partners, LP (NYSE:SMLP) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,114,309 shares of the pipeline company’s stock after purchasing an additional 588,085 shares during the quarter. Summit Midstream Partners, makes up 18.2% of HMI Capital LLC’s investment portfolio, making the stock its biggest holding. HMI Capital LLC owned approximately 7.07% of Summit Midstream Partners, worth $115,839,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. OppenheimerFunds Inc. grew its stake in shares of Summit Midstream Partners, by 7.4% in the first quarter. OppenheimerFunds Inc. now owns 8,453,965 shares of the pipeline company’s stock worth $202,895,000 after purchasing an additional 583,831 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Summit Midstream Partners, by 3.2% in the second quarter. Kayne Anderson Capital Advisors LP now owns 3,138,000 shares of the pipeline company’s stock worth $71,068,000 after purchasing an additional 96,100 shares during the last quarter. Morgan Stanley grew its stake in shares of Summit Midstream Partners, by 6.4% in the first quarter. Morgan Stanley now owns 1,182,900 shares of the pipeline company’s stock worth $28,391,000 after purchasing an additional 71,310 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Summit Midstream Partners, by 65.2% in the first quarter. Bank of America Corp DE now owns 742,062 shares of the pipeline company’s stock worth $17,809,000 after purchasing an additional 292,919 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Summit Midstream Partners, by 6.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 604,661 shares of the pipeline company’s stock worth $13,696,000 after purchasing an additional 39,035 shares during the last quarter. 49.82% of the stock is currently owned by institutional investors.

Shares of Summit Midstream Partners, LP (NYSE SMLP) traded down 2.56% during trading on Friday, hitting $20.90. 45,152 shares of the stock traded hands. Summit Midstream Partners, LP has a 12 month low of $19.15 and a 12 month high of $26.50. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 88.56 and a beta of 1.72. The company has a 50 day moving average price of $21.33 and a 200 day moving average price of $22.80.

Summit Midstream Partners, (NYSE:SMLP) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.14. Summit Midstream Partners, had a net margin of 5.78% and a return on equity of 3.55%. The firm had revenue of $101.79 million during the quarter, compared to analysts’ expectations of $99.40 million. Analysts anticipate that Summit Midstream Partners, LP will post $0.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.30 annualized dividend and a dividend yield of 11.00%. Summit Midstream Partners,’s dividend payout ratio is 958.37%.

Several brokerages recently weighed in on SMLP. Zacks Investment Research cut shares of Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Citigroup Inc. restated a “neutral” rating and issued a $24.00 target price (up previously from $22.00) on shares of Summit Midstream Partners, in a report on Monday, July 24th. BidaskClub upgraded shares of Summit Midstream Partners, from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine lowered shares of Summit Midstream Partners, from a “hold” rating to a “sell” rating in a report on Saturday, May 27th. Finally, Barclays PLC lowered shares of Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $25.00 to $24.00 in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.17.

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About Summit Midstream Partners,

Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.

Institutional Ownership by Quarter for Summit Midstream Partners, (NYSE:SMLP)

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