Summit Midstream Partners, LP (NYSE:SMLP) Short Interest Update

Posted by on Jun 17th, 2022

Summit Midstream Partners, LP (NYSE:SMLP – Get Rating) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 28,600 shares, a growth of 22.2% from the May 15th total of 23,400 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 57,200 shares, the short-interest ratio is presently 0.5 days.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in shares of Summit Midstream Partners by 26,112.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,097 shares of the pipeline company’s stock worth $46,000 after buying an additional 2,089 shares during the period. Protective Life Corp bought a new position in shares of Summit Midstream Partners in the first quarter worth about $184,000. Cetera Advisors LLC raised its stake in shares of Summit Midstream Partners by 19.9% in the first quarter. Cetera Advisors LLC now owns 14,301 shares of the pipeline company’s stock worth $213,000 after buying an additional 2,370 shares during the period. Citigroup Inc. raised its stake in Summit Midstream Partners by 20.3% during the 1st quarter. Citigroup Inc. now owns 17,660 shares of the pipeline company’s stock valued at $263,000 after purchasing an additional 2,976 shares during the period. Finally, UBS Group AG raised its stake in Summit Midstream Partners by 15.7% during the 3rd quarter. UBS Group AG now owns 8,065 shares of the pipeline company’s stock valued at $287,000 after purchasing an additional 1,094 shares during the period. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on SMLP shares. StockNews.com cut Summit Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. Royal Bank of Canada dropped their target price on Summit Midstream Partners from $31.00 to $17.00 in a research report on Tuesday, May 31st.

NYSE:SMLP traded down $0.66 on Friday, hitting $14.99. The stock had a trading volume of 903 shares, compared to its average volume of 31,984. The business’s 50-day simple moving average is $18.20 and its two-hundred day simple moving average is $20.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.61. Summit Midstream Partners has a 52-week low of $13.91 and a 52-week high of $46.64. The stock has a market cap of $150.20 million, a price-to-earnings ratio of -3.02 and a beta of 2.54.

Summit Midstream Partners (NYSE:SMLP – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The pipeline company reported $1.32 EPS for the quarter, topping the consensus estimate of ($1.42) by $2.74. Summit Midstream Partners had a positive return on equity of 0.31% and a negative net margin of 7.28%. The firm had revenue of $96.13 million for the quarter.

Summit Midstream Partners Company Profile (Get Rating)

Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, compression, treating, and processing services, as well as crude oil and produced water gathering services.

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