Shares of Summit Midstream Partners LP (NYSE:SMLP) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.75.

Several research firms have commented on SMLP. Barclays PLC lifted their price target on Summit Midstream Partners from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, August 18th. Zacks Investment Research upgraded Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, June 24th. Robert W. Baird upgraded Summit Midstream Partners from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $24.00 to $33.00 in a report on Friday, August 12th. Credit Suisse Group AG upgraded Summit Midstream Partners from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $27.00 to $30.00 in a report on Monday, August 8th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $28.00 price target (up previously from $25.00) on shares of Summit Midstream Partners in a report on Wednesday, September 7th.

A number of institutional investors have recently added to or reduced their stakes in SMLP. UBS Group AG boosted its position in Summit Midstream Partners by 80.0% in the first quarter. UBS Group AG now owns 750,116 shares of the company’s stock worth $12,737,000 after buying an additional 333,495 shares in the last quarter. ING Groep NV raised its position in shares of Summit Midstream Partners by 491.0% in the first quarter. ING Groep NV now owns 236,398 shares of the company’s stock worth $4,014,000 after buying an additional 196,398 shares during the last quarter. Harvest Fund Advisors LLC raised its position in shares of Summit Midstream Partners by 5.4% in the second quarter. Harvest Fund Advisors LLC now owns 2,271,783 shares of the company’s stock worth $51,910,000 after buying an additional 116,795 shares during the last quarter. Advisory Research Inc. raised its position in shares of Summit Midstream Partners by 2.8% in the second quarter. Advisory Research Inc. now owns 2,709,753 shares of the company’s stock worth $61,918,000 after buying an additional 72,590 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Summit Midstream Partners during the first quarter worth about $623,000.

Shares of Summit Midstream Partners (NYSE:SMLP) opened at 22.99 on Monday. The company has a 50-day moving average of $23.38 and a 200 day moving average of $21.02. The firm’s market cap is $1.53 billion. Summit Midstream Partners has a one year low of $11.06 and a one year high of $25.10.

Summit Midstream Partners (NYSE:SMLP) last announced its earnings results on Thursday, August 4th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.91. The company had revenue of $89.64 million for the quarter, compared to analysts’ expectations of $101.88 million. On average, equities research analysts expect that Summit Midstream Partners will post ($0.36) EPS for the current fiscal year.

Summit Midstream Partners Company Profile

Summit Midstream Partners, LP is a limited partnership focused on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Marcellus Shale, which is served by Mountaineer Midstream; the Williston Basin, which is served by Bison Midstream; the Barnett Shale, which is served by DFW Midstream; the Piceance Basin, which is served by Grand River, and Corporate.

5 Day Chart for NYSE:SMLP

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