Summit Midstream Partners (NYSE:SMLP) Shares Pass Below 200 Day Moving Average of $17.05

Summit Midstream Partners, LP (NYSE:SMLP – Get Rating)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.05 and traded as low as $14.61. Summit Midstream Partners shares last traded at $14.92, with a volume of 8,652 shares changing hands.

Analyst Ratings Changes

Several brokerages have issued reports on SMLP. Royal Bank of Canada decreased their price objective on shares of Summit Midstream Partners from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 15th. StockNews.com initiated coverage on shares of Summit Midstream Partners in a research report on Thursday, May 18th. They set a “hold” rating on the stock.

Summit Midstream Partners Stock Up 0.8 %

The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 2.21. The business’s 50-day moving average is $15.25 and its 200-day moving average is $17.05. The company has a market capitalization of $151.89 million, a price-to-earnings ratio of -0.95 and a beta of 2.35.

Summit Midstream Partners (NYSE:SMLP – Get Rating) last announced its quarterly earnings data on Friday, February 24th. The pipeline company reported ($3.03) earnings per share (EPS) for the quarter. Summit Midstream Partners had a negative net margin of 35.66% and a negative return on equity of 19.87%. The business had revenue of $85.72 million for the quarter.

Insider Transactions at Summit Midstream Partners

In other Summit Midstream Partners news, insider James David Johnston sold 1,575 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $19.00, for a total value of $29,925.00. Following the sale, the insider now directly owns 21,166 shares of the company’s stock, valued at approximately $402,154. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Summit Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blackstone Inc. lifted its holdings in shares of Summit Midstream Partners by 90.0% in the third quarter. Blackstone Inc. now owns 58,756 shares of the pipeline company’s stock valued at $883,000 after purchasing an additional 27,831 shares in the last quarter. Farallon Capital Management LLC purchased a new position in shares of Summit Midstream Partners in the first quarter valued at $641,000. Cetera Advisors LLC boosted its stake in Summit Midstream Partners by 5.7% during the 4th quarter. Cetera Advisors LLC now owns 21,169 shares of the pipeline company’s stock valued at $353,000 after acquiring an additional 1,150 shares during the last quarter. Citigroup Inc. boosted 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 acquiring an additional 2,976 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of Summit Midstream Partners by 6.9% during the fourth quarter. UBS Group AG now owns 15,126 shares of the pipeline company’s stock worth $252,000 after purchasing an additional 980 shares during the period. Hedge funds and other institutional investors own 45.05% of the company’s stock.

Summit Midstream Partners Company Profile

(Get Rating)

Summit Midstream Partners LP engages in the development, ownership, and operation of midstream energy infrastructure assets that are located in unconventional resource basins, primarily shale formations. It operates through the following segments: Utica Shale, Ohio Gathering, Williston Basin, DJ Basin, Permian Basin, Piceance Basin, Barnett Shale, and Marcellus Shale.