Summit Midstream Partners LP (NYSE:SMLP) insider Louise E. Matthews sold 1,000 shares of Summit Midstream Partners stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $14.55, for a total transaction of $14,550.00. Following the sale, the insider now owns 71,225 shares of the company’s stock, valued at $1,036,323.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Summit Midstream Partners LP (NYSE:SMLP) opened at $14.25 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1,103.71, a P/E ratio of 8.46 and a beta of 1.79. Summit Midstream Partners LP has a twelve month low of $14.00 and a twelve month high of $24.75.
Summit Midstream Partners (NYSE:SMLP) last issued its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Summit Midstream Partners had a net margin of 17.59% and a return on equity of 12.62%. The company had revenue of $126.20 million during the quarter. research analysts expect that Summit Midstream Partners LP will post 0.8 EPS for the current fiscal year.
A number of brokerages recently weighed in on SMLP. Zacks Investment Research cut shares of Summit Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Barclays dropped their price objective on shares of Summit Midstream Partners from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Wednesday, March 7th. Robert W. Baird set a $22.00 price objective on shares of Summit Midstream Partners and gave the company a “buy” rating in a report on Thursday, March 8th. Royal Bank of Canada restated a “buy” rating and issued a $20.00 price objective on shares of Summit Midstream Partners in a report on Tuesday, March 6th. Finally, SunTrust Banks dropped their price objective on shares of Summit Midstream Partners to $19.00 and set a “hold” rating for the company in a report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $21.43.
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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.
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