Summit Midstream Partners (SMLP) Downgraded to “Hold” at ValuEngine

ValuEngine downgraded shares of Summit Midstream Partners (NYSE:SMLP) from a buy rating to a hold rating in a report released on Sunday.

Other equities analysts have also recently issued reports about the company. BidaskClub cut Summit Midstream Partners from a hold rating to a sell rating in a report on Friday, September 15th. Zacks Investment Research cut Summit Midstream Partners from a buy rating to a hold rating in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Summit Midstream Partners presently has an average rating of Hold and an average price target of $25.50.

Shares of Summit Midstream Partners (SMLP) traded down $0.20 during mid-day trading on Friday, reaching $20.50. The company had a trading volume of 138,500 shares, compared to its average volume of 183,538. The firm has a market capitalization of $1,528.28, a PE ratio of 14.04 and a beta of 1.66. Summit Midstream Partners has a 52-week low of $18.30 and a 52-week high of $26.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMLP. BNP Paribas Arbitrage SA acquired a new position in shares of Summit Midstream Partners in the third quarter worth $105,000. Alliancebernstein L.P. raised its holdings in shares of Summit Midstream Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock worth $227,000 after acquiring an additional 560 shares during the last quarter. Institutional & Family Asset Management LLC acquired a new position in shares of Summit Midstream Partners in the third quarter worth $309,000. Stifel Financial Corp raised its holdings in shares of Summit Midstream Partners by 97.4% in the second quarter. Stifel Financial Corp now owns 22,140 shares of the pipeline company’s stock worth $501,000 after acquiring an additional 10,925 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of Summit Midstream Partners by 4.2% in the second quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock worth $560,000 after acquiring an additional 989 shares during the last quarter. 48.77% of the stock is owned by institutional investors.

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Summit Midstream Partners Company Profile

Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.

Analyst Recommendations for Summit Midstream Partners (NYSE:SMLP)

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