Summit Midstream Partners, LP (SMLP) Upgraded to “Buy” at Zacks Investment Research

Summit Midstream Partners, LP (NYSE:SMLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $24.00 price target on the pipeline company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.15% from the stock’s previous close.

According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “

SMLP has been the topic of a number of other research reports. Citigroup Inc. restated a “neutral” rating and set a $24.00 price objective (up previously from $22.00) on shares of Summit Midstream Partners, in a research note on Monday, July 24th. Robert W. Baird lowered their price objective on Summit Midstream Partners, from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, August 11th. BidaskClub lowered Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, Barclays PLC lowered Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $25.00 to $24.00 in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.83.

Shares of Summit Midstream Partners, (NYSE:SMLP) traded down 0.93% during mid-day trading on Tuesday, reaching $21.20. The company had a trading volume of 19,645 shares. The firm’s 50 day moving average is $20.77 and its 200-day moving average is $22.44. The stock has a market capitalization of $1.55 billion, a P/E ratio of 89.83 and a beta of 1.71. Summit Midstream Partners, has a 12-month low of $19.15 and a 12-month high of $26.50.

Summit Midstream Partners, (NYSE:SMLP) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.14. Summit Midstream Partners, had a return on equity of 3.55% and a net margin of 5.78%. The firm had revenue of $101.79 million for the quarter, compared to analyst estimates of $99.40 million. On average, analysts expect that Summit Midstream Partners, will post $0.34 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Summit Midstream Partners, LP (SMLP) Upgraded to “Buy” at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/10/summit-midstream-partners-lp-smlp-upgraded-to-buy-at-zacks-investment-research.html.

Several institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of Summit Midstream Partners, by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock valued at $227,000 after purchasing an additional 560 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Summit Midstream Partners, by 4.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock valued at $560,000 after purchasing an additional 989 shares during the last quarter. Solaris Asset Management LLC increased its stake in shares of Summit Midstream Partners, by 32.7% in the 2nd quarter. Solaris Asset Management LLC now owns 5,275 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 1,300 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Summit Midstream Partners, by 11.1% in the 2nd quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock valued at $343,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Summit Midstream Partners, by 6.0% in the 2nd quarter. Wells Fargo & Company MN now owns 51,647 shares of the pipeline company’s stock valued at $1,170,000 after purchasing an additional 2,938 shares during the last quarter. Institutional investors own 49.82% of the company’s stock.

About Summit Midstream Partners,

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.

According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “

SMLP has been the topic of a number of other research reports. Citigroup Inc. restated a “neutral” rating and set a $24.00 price objective (up previously from $22.00) on shares of Summit Midstream Partners, in a research note on Monday, July 24th. Robert W. Baird lowered their price objective on Summit Midstream Partners, from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, August 11th. BidaskClub lowered Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, Barclays PLC lowered Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $25.00 to $24.00 in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.83.

Shares of Summit Midstream Partners, (NYSE:SMLP) traded down 0.93% during mid-day trading on Tuesday, reaching $21.20. The company had a trading volume of 19,645 shares. The firm’s 50 day moving average is $20.77 and its 200-day moving average is $22.44. The stock has a market capitalization of $1.55 billion, a P/E ratio of 89.83 and a beta of 1.71. Summit Midstream Partners, has a 12-month low of $19.15 and a 12-month high of $26.50.

Summit Midstream Partners, (NYSE:SMLP) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.14. Summit Midstream Partners, had a return on equity of 3.55% and a net margin of 5.78%. The firm had revenue of $101.79 million for the quarter, compared to analyst estimates of $99.40 million. On average, analysts expect that Summit Midstream Partners, will post $0.34 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Summit Midstream Partners, LP (SMLP) Upgraded to “Buy” at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/10/summit-midstream-partners-lp-smlp-upgraded-to-buy-at-zacks-investment-research.html.

Several institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of Summit Midstream Partners, by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock valued at $227,000 after purchasing an additional 560 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Summit Midstream Partners, by 4.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock valued at $560,000 after purchasing an additional 989 shares during the last quarter. Solaris Asset Management LLC increased its stake in shares of Summit Midstream Partners, by 32.7% in the 2nd quarter. Solaris Asset Management LLC now owns 5,275 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 1,300 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Summit Midstream Partners, by 11.1% in the 2nd quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock valued at $343,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Summit Midstream Partners, by 6.0% in the 2nd quarter. Wells Fargo & Company MN now owns 51,647 shares of the pipeline company’s stock valued at $1,170,000 after purchasing an additional 2,938 shares during the last quarter. Institutional investors own 49.82% of the company’s stock.

About Summit Midstream Partners,

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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