Marshall Wace North America L.P. bought a new position in shares of Summit Midstream Partners, LP (NYSE:SMLP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 38,213 shares of the pipeline company’s stock, valued at approximately $879,000. Marshall Wace North America L.P. owned approximately 0.05% of Summit Midstream Partners, as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. raised its stake in Summit Midstream Partners, by 1.9% in the first quarter. Baird Financial Group Inc. now owns 13,710 shares of the pipeline company’s stock valued at $329,000 after purchasing an additional 250 shares in the last quarter. Solaris Asset Management LLC raised its stake in Summit Midstream Partners, by 32.7% in the second quarter. Solaris Asset Management LLC now owns 5,275 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 1,300 shares in the last quarter. Global X Management Co. LLC raised its stake in Summit Midstream Partners, by 11.1% in the second quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock valued at $343,000 after purchasing an additional 1,514 shares in the last quarter. Van ECK Associates Corp raised its stake in Summit Midstream Partners, by 2.8% in the first quarter. Van ECK Associates Corp now owns 68,796 shares of the pipeline company’s stock valued at $1,651,000 after purchasing an additional 1,861 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in Summit Midstream Partners, by 0.8% in the first quarter. Westwood Holdings Group Inc. now owns 484,277 shares of the pipeline company’s stock valued at $11,623,000 after purchasing an additional 3,790 shares in the last quarter. 49.82% of the stock is owned by institutional investors.

Summit Midstream Partners, LP (SMLP) opened at 20.90 on Monday. The firm has a 50-day moving average price of $21.33 and a 200-day moving average price of $22.80. The company has a market cap of $1.53 billion, a PE ratio of 88.56 and a beta of 1.72. Summit Midstream Partners, LP has a 52-week low of $19.15 and a 52-week high of $26.50.

Summit Midstream Partners, (NYSE:SMLP) last issued its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.14. The business had revenue of $101.79 million for the quarter, compared to analysts’ expectations of $99.40 million. Summit Midstream Partners, had a return on equity of 3.55% and a net margin of 5.78%. On average, analysts forecast that Summit Midstream Partners, LP will post $0.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.30 dividend on an annualized basis and a yield of 11.00%. Summit Midstream Partners,’s dividend payout ratio (DPR) is 958.37%.

A number of research analysts recently commented on SMLP shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $28.00 price target on shares of Summit Midstream Partners, in a research note on Tuesday, June 6th. Zacks Investment Research raised Summit Midstream Partners, from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, July 26th. BidaskClub raised Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine raised Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $24.00 price target (up previously from $22.00) on shares of Summit Midstream Partners, in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $26.17.

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Summit Midstream Partners, Profile

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.

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

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