Summit Midstream Partners (NYSE:SMLP) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a research report released on Saturday morning. The firm issued a strong-buy rating on the pipeline company’s stock.

Summit Midstream Partners Stock Performance

SMLP opened at $34.86 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.64 and a quick ratio of 2.64. The business has a fifty day simple moving average of $32.83 and a 200 day simple moving average of $24.79. Summit Midstream Partners has a 1 year low of $13.00 and a 1 year high of $36.78. The company has a market capitalization of $363.24 million, a PE ratio of 4.86 and a beta of 2.41.

Summit Midstream Partners (NYSE:SMLP) last announced its earnings results on Thursday, May 2nd. The pipeline company reported $16.36 earnings per share (EPS) for the quarter. Summit Midstream Partners had a net margin of 23.24% and a return on equity of 25.67%. The company had revenue of $118.87 million during the quarter.

Insider Buying and Selling

In other Summit Midstream Partners news, Director Jerry L. Peters sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $34.03, for a total transaction of $340,300.00. Following the completion of the transaction, the director now directly owns 30,239 shares in the company, valued at $1,029,033.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SMLP. Tower Research Capital LLC TRC acquired a new stake in Summit Midstream Partners during the 4th quarter valued at approximately $48,000. Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream Partners in the fourth quarter valued at $232,000. Finally, Cetera Advisors LLC boosted its position in Summit Midstream Partners by 3.5% during the first quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock valued at $377,000 after acquiring an additional 450 shares during the last quarter. Institutional investors own 42.97% of the company’s stock.

About Summit Midstream Partners

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.