BidaskClub upgraded shares of Summit Midstream Partners, LP (NYSE:SMLP) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Several other research analysts have also recently weighed in on SMLP. Zacks Investment Research upgraded shares of Summit Midstream Partners, from a sell rating to a hold rating in a report on Wednesday, July 12th. Barclays PLC cut shares of Summit Midstream Partners, from an equal weight rating to an underweight rating and cut their price target for the stock from $25.00 to $24.00 in a report on Tuesday, July 18th. Citigroup Inc. restated a neutral rating and set a $24.00 price target (up from $22.00) on shares of Summit Midstream Partners, in a report on Monday, July 24th. Finally, Robert W. Baird cut their price target on shares of Summit Midstream Partners, from $28.00 to $27.00 and set an outperform rating on the stock in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $26.17.

Shares of Summit Midstream Partners, (NYSE SMLP) opened at 21.40 on Thursday. The firm has a market capitalization of $1.56 billion, a P/E ratio of 90.68 and a beta of 1.70. Summit Midstream Partners, has a 52 week low of $19.15 and a 52 week high of $26.50. The company has a 50-day moving average of $20.71 and a 200 day moving average of $22.45.

Summit Midstream Partners, (NYSE:SMLP) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.12 earnings per share for the quarter, topping 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 business had revenue of $101.79 million for the quarter, compared to analysts’ expectations of $99.40 million. Equities research analysts anticipate that Summit Midstream Partners, will post $0.34 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its stake in Summit Midstream Partners, by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock valued at $227,000 after acquiring an additional 560 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Summit Midstream Partners, by 4.2% in the second quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock valued at $560,000 after acquiring an additional 989 shares during the last quarter. Solaris Asset Management LLC boosted 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 acquiring an additional 1,300 shares during the last quarter. Global X Management Co. LLC boosted 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 acquiring an additional 1,514 shares during the last quarter. Finally, Van ECK Associates Corp boosted 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 acquiring an additional 1,861 shares during the last quarter. Hedge funds and other institutional investors own 49.82% of the company’s stock.

Summit Midstream Partners, Company 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.

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

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