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

Summit Midstream Partners, LP (NYSE:SMLP) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 191,900 shares, an increase of 150.8% from the June 30th total of 76,500 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 36,400 shares, the days-to-cover ratio is currently 5.3 days.

Summit Midstream Partners Price Performance

Shares of NYSE SMLP traded up $0.11 during mid-day trading on Friday, reaching $37.00. The company had a trading volume of 19,941 shares, compared to its average volume of 41,916. Summit Midstream Partners has a 1-year low of $13.00 and a 1-year high of $37.59. The stock has a market cap of $385.54 million, a PE ratio of 5.16 and a beta of 2.41. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average price of $34.16 and a two-hundred day moving average price of $26.78.

Summit Midstream Partners (NYSE:SMLP) last released 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 business had revenue of $118.87 million for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Summit Midstream Partners in a research note on Tuesday. They set a “strong-buy” rating on the stock.

Insider Buying and Selling

In related news, Director Jerry L. Peters sold 10,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $34.03, for a total value of $340,300.00. Following the sale, the director now owns 30,239 shares of the company’s stock, valued at approximately $1,029,033.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Summit Midstream Partners

Several hedge funds have recently bought and sold shares of SMLP. Tower Research Capital LLC TRC acquired a new position in Summit Midstream Partners in the 4th quarter worth about $48,000. Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream Partners in the 4th quarter worth about $232,000. Finally, Cetera Advisors LLC increased its position in Summit Midstream Partners by 3.5% in the 1st quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock worth $377,000 after purchasing an additional 450 shares during 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.