Neuberger Berman Group LLC raised its position in Summit Midstream Partners LP (NYSE:SMLP) by 326.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,399 shares of the pipeline company’s stock after acquiring an additional 80,660 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.14% of Summit Midstream Partners worth $2,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alliancebernstein L.P. increased its position in shares of Summit Midstream Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock valued at $227,000 after buying an additional 560 shares during the period. Wells Fargo & Company MN increased its position in shares of Summit Midstream Partners by 6.0% during the second quarter. Wells Fargo & Company MN now owns 51,647 shares of the pipeline company’s stock valued at $1,170,000 after buying an additional 2,938 shares during the period. Arrow Investment Advisors LLC increased its position in shares of Summit Midstream Partners by 15.2% during the third quarter. Arrow Investment Advisors LLC now owns 34,052 shares of the pipeline company’s stock valued at $681,000 after buying an additional 4,504 shares during the period. CNH Partners LLC increased its position in shares of Summit Midstream Partners by 18.8% during the second quarter. CNH Partners LLC now owns 31,028 shares of the pipeline company’s stock valued at $703,000 after buying an additional 4,900 shares during the period. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of Summit Midstream Partners during the third quarter valued at about $105,000. Institutional investors own 48.77% of the company’s stock.

Several brokerages recently issued reports on SMLP. BidaskClub upgraded shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, September 8th. ValuEngine upgraded shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Zacks Investment Research upgraded shares of Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.50.

Shares of Summit Midstream Partners LP (NYSE SMLP) opened at $20.50 on Friday. The firm has a market cap of $1,528.28, a PE ratio of 12.35 and a beta of 1.66. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. Summit Midstream Partners LP has a fifty-two week low of $18.30 and a fifty-two week high of $26.50.

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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.

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

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