Summit Midstream Partners, LP (NYSE:SMLP) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.20.

Several analysts have commented on the company. Barclays PLC cut Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $25.00 to $24.00 in a report on Tuesday, July 18th. Zacks Investment Research cut Summit Midstream Partners, from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. BidaskClub upgraded Summit Midstream Partners, from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Citigroup Inc. restated a “neutral” rating and issued a $24.00 price target (up previously from $22.00) on shares of Summit Midstream Partners, in a report on Monday, July 24th. Finally, ValuEngine upgraded Summit Midstream Partners, from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.

Several large investors have recently modified their holdings of SMLP. Baird Financial Group Inc. grew its holdings in shares of Summit Midstream Partners, by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 13,710 shares of the pipeline company’s stock worth $329,000 after purchasing an additional 250 shares during the period. Stifel Financial Corp purchased a new stake in shares of Summit Midstream Partners, during the 1st quarter worth about $269,000. Neuberger Berman Group LLC purchased a new stake in shares of Summit Midstream Partners, during the 1st quarter worth about $570,000. Alliancebernstein L.P. purchased a new stake in shares of Summit Midstream Partners, during the 1st quarter worth about $227,000. Finally, Van ECK Associates Corp grew its holdings in shares of Summit Midstream Partners, by 2.8% during the 1st quarter. Van ECK Associates Corp now owns 68,796 shares of the pipeline company’s stock worth $1,651,000 after purchasing an additional 1,861 shares during the period. Institutional investors and hedge funds own 49.82% of the company’s stock.

Shares of Summit Midstream Partners, (NYSE:SMLP) traded down 1.48% during midday trading on Wednesday, hitting $20.00. 620,129 shares of the company were exchanged. The company has a 50-day moving average price of $20.90 and a 200-day moving average price of $22.66. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 84.75 and a beta of 1.72. Summit Midstream Partners, has a 52-week low of $19.15 and a 52-week high of $26.50.

Summit Midstream Partners, (NYSE:SMLP) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.12 earnings per share for the quarter, beating the 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 the consensus estimate of $99.40 million. On average, analysts forecast that Summit Midstream Partners, will post $0.33 EPS for the current year.

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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.

Analyst Recommendations for Summit Midstream Partners, (NYSE:SMLP)

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