Summit Midstream Partners LP (NYSE:SMLP) Shares Bought by Evergreen Capital Management LLC

Evergreen Capital Management LLC lifted its position in Summit Midstream Partners LP (NYSE:SMLP) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,700 shares of the pipeline company’s stock after buying an additional 11,515 shares during the period. Evergreen Capital Management LLC owned about 0.49% of Summit Midstream Partners worth $7,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Summit Midstream Partners by 5.4% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 637,106 shares of the pipeline company’s stock worth $12,742,000 after buying an additional 32,445 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Summit Midstream Partners by 28.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 676,736 shares of the pipeline company’s stock valued at $13,738,000 after purchasing an additional 151,725 shares during the last quarter. Harvest Fund Advisors LLC lifted its stake in Summit Midstream Partners by 14.9% in the 3rd quarter. Harvest Fund Advisors LLC now owns 3,365,477 shares of the pipeline company’s stock valued at $67,310,000 after purchasing an additional 437,548 shares during the last quarter. Arrow Investment Advisors LLC lifted its stake in Summit Midstream Partners by 15.2% in the 3rd quarter. Arrow Investment Advisors LLC now owns 34,052 shares of the pipeline company’s stock valued at $681,000 after purchasing an additional 4,504 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its stake in Summit Midstream Partners by 0.6% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,157,570 shares of the pipeline company’s stock valued at $63,148,000 after purchasing an additional 19,570 shares during the last quarter. Institutional investors and hedge funds own 48.77% of the company’s stock.

Several equities research analysts recently issued reports on SMLP shares. Zacks Investment Research upgraded shares of Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Saturday, October 21st. BidaskClub cut shares of Summit Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, September 15th. ValuEngine raised shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Robert W. Baird lowered their price target on shares of Summit Midstream Partners from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.50.

Shares of Summit Midstream Partners LP (NYSE:SMLP) traded down $0.05 during trading hours on Wednesday, reaching $19.50. 66,000 shares of the company were exchanged, compared to its average volume of 185,790. The company has a market capitalization of $1,457.45, a PE ratio of 11.78 and a beta of 1.66. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. Summit Midstream Partners LP has a fifty-two week low of $18.30 and a fifty-two week high of $26.50.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were paid a $0.575 dividend. The ex-dividend date was Monday, November 6th. This represents a $2.30 dividend on an annualized basis and a yield of 11.79%. Summit Midstream Partners’s dividend payout ratio (DPR) is 157.53%.

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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.

Institutional Ownership by Quarter for Summit Midstream Partners (NYSE:SMLP)

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