Summit Midstream Partners (NYSE:SMLP) Upgraded by StockNews.com to Strong-Buy

Summit Midstream Partners (NYSE:SMLP) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

Summit Midstream Partners Trading Down 0.3 %

Shares of SMLP opened at $35.00 on Monday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.73 and a quick ratio of 0.73. Summit Midstream Partners has a 1 year low of $13.00 and a 1 year high of $36.00. The company has a 50 day simple moving average of $25.67 and a two-hundred day simple moving average of $20.72. The firm has a market cap of $364.70 million, a P/E ratio of 4.88 and a beta of 2.32.

Summit Midstream Partners (NYSE:SMLP) last announced its quarterly earnings data on Friday, March 15th. The pipeline company reported ($1.29) earnings per share (EPS) for the quarter. Summit Midstream Partners had a net margin of 23.24% and a return on equity of 26.81%. The company had revenue of $127.32 million for the quarter.

Insider Activity

In other news, insider James David Johnston sold 3,400 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $25.21, for a total transaction of $85,714.00. Following the completion of the transaction, the insider now directly owns 48,201 shares in the company, valued at approximately $1,215,147.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 8,000 shares of company stock worth $179,459. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Summit Midstream Partners stock. Tower Research Capital LLC TRC purchased a new position in Summit Midstream Partners, LP (NYSE:SMLP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,660 shares of the pipeline company’s stock, valued at approximately $48,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

Summit Midstream Partners Company Profile

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 and freshwater delivery services.