Summit Midstream Partners (NYSE:SMLP) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a research note issued to investors on Saturday. The brokerage set a “strong-buy” rating on the pipeline company’s stock.

Summit Midstream Partners Trading Down 0.0 %

Shares of SMLP opened at $35.56 on Friday. The firm has a fifty day simple moving average of $32.54 and a two-hundred day simple moving average of $24.54. Summit Midstream Partners has a twelve month low of $13.00 and a twelve month high of $36.78. The stock has a market capitalization of $370.39 million, a P/E ratio of 4.96 and a beta of 2.37. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 1.51.

Summit Midstream Partners (NYSE:SMLP) last announced its earnings results on Thursday, May 2nd. The pipeline company reported $16.36 earnings per share for the quarter. Summit Midstream Partners had a net margin of 23.24% and a return on equity of 25.67%. The firm had revenue of $118.87 million for the quarter.

Insider Transactions at Summit Midstream Partners

In other news, Director Jerry L. Peters sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $34.03, for a total value of $340,300.00. Following the completion of the transaction, the director now owns 30,239 shares in the company, valued at $1,029,033.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pekin Hardy Strauss Inc. bought a new stake in shares of Summit Midstream Partners during the 4th quarter valued at $232,000. Tower Research Capital LLC TRC purchased a new position in shares of Summit Midstream Partners in the 4th quarter worth $48,000. Finally, Cetera Advisors LLC grew its position in Summit Midstream Partners by 3.5% in the first quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock worth $377,000 after acquiring an additional 450 shares in the last quarter. 42.97% of the stock is 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.