Summit Midstream Partners (NYSE:SMLP) Stock Passes Above Two Hundred Day Moving Average of $16.14

Summit Midstream Partners, LP (NYSE:SMLPGet Rating)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.14 and traded as high as $16.52. Summit Midstream Partners shares last traded at $15.30, with a volume of 25,754 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on SMLP shares. Royal Bank of Canada lifted their price objective on Summit Midstream Partners from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Tuesday, September 6th. StockNews.com cut Summit Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd.

Summit Midstream Partners Price Performance

The firm has a market cap of $153.37 million, a P/E ratio of -1.30 and a beta of 2.47. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.71. The business has a 50-day moving average of $15.60 and a two-hundred day moving average of $16.14.

Summit Midstream Partners (NYSE:SMLPGet Rating) last announced its earnings results on Thursday, August 4th. The pipeline company reported ($9.53) EPS for the quarter. The business had revenue of $99.06 million for the quarter. Summit Midstream Partners had a negative net margin of 25.48% and a negative return on equity of 12.48%.

Insider Buying and Selling

In other Summit Midstream Partners news, insider James David Johnston sold 1,575 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $17.00, for a total transaction of $26,775.00. Following the sale, the insider now owns 27,466 shares in the company, valued at $466,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Summit Midstream Partners

Several large investors have recently made changes to their positions in SMLP. UBS Group AG raised its holdings in Summit Midstream Partners by 9.0% in the 2nd quarter. UBS Group AG now owns 13,502 shares of the pipeline company’s stock worth $172,000 after acquiring an additional 1,119 shares during the last quarter. Protective Life Corp purchased a new stake in Summit Midstream Partners during the 1st quarter valued at $184,000. Cetera Advisors LLC raised its stake in Summit Midstream Partners by 19.9% during the 1st quarter. Cetera Advisors LLC now owns 14,301 shares of the pipeline company’s stock valued at $213,000 after buying an additional 2,370 shares during the last quarter. 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 buying an additional 2,976 shares during the last quarter. Finally, AEGON USA Investment Management LLC grew its position in shares of Summit Midstream Partners by 42.6% during the 1st quarter. AEGON USA Investment Management LLC now owns 27,496 shares of the pipeline company’s stock valued at $409,000 after acquiring an additional 8,208 shares during the period. 47.09% of the stock is currently owned by hedge funds and other institutional investors.

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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