Castleton Investment Management LLC grew its stake in Summit Midstream Partners, LP (NYSE:SMLP) by 364.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,000 shares of the pipeline company’s stock after acquiring an additional 74,536 shares during the quarter. Summit Midstream Partners, comprises approximately 0.7% of Castleton Investment Management LLC’s portfolio, making the stock its 27th biggest holding. Castleton Investment Management LLC owned approximately 0.13% of Summit Midstream Partners, worth $2,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the company. Solaris Asset Management LLC increased its stake in Summit Midstream Partners, by 32.7% in the second 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. Alliancebernstein L.P. acquired a new position in Summit Midstream Partners, during the first quarter worth approximately $227,000. Proficio Capital Partners LLC acquired a new position in Summit Midstream Partners, during the second quarter worth approximately $242,000. Stifel Financial Corp acquired a new position in Summit Midstream Partners, during the first quarter worth approximately $269,000. Finally, Global X Management Co. LLC increased its position in Summit Midstream Partners, by 11.1% during the second quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock worth $343,000 after purchasing an additional 1,514 shares during the last quarter. Institutional investors and hedge funds own 49.82% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was posted by Watch List News and is the property of of Watch List News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of United States & international copyright and trademark law. The legal version of this piece can be accessed at https://www.watchlistnews.com/castleton-investment-management-llc-buys-74536-shares-of-summit-midstream-partners-lp-smlp/1607722.html.

SMLP has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Summit Midstream Partners, from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Robert W. Baird cut their target price on Summit Midstream Partners, from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $28.00 target price on shares of Summit Midstream Partners, in a report on Tuesday, June 6th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $24.00 target price (up previously from $22.00) on shares of Summit Midstream Partners, in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Summit Midstream Partners, currently has an average rating of “Hold” and a consensus price target of $26.17.

Summit Midstream Partners, LP (NYSE:SMLP) traded up 1.46% during midday trading on Wednesday, reaching $20.80. 44,658 shares of the company were exchanged. The firm’s 50-day moving average is $20.60 and its 200-day moving average is $22.48. Summit Midstream Partners, LP has a one year low of $19.15 and a one year high of $26.50. The firm has a market cap of $1.52 billion, a P/E ratio of 88.14 and a beta of 1.70.

Summit Midstream Partners, (NYSE:SMLP) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.12 EPS for the quarter, beating the 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 company had revenue of $101.79 million for the quarter, compared to the consensus estimate of $99.40 million. On average, equities analysts expect that Summit Midstream Partners, LP will post $0.33 EPS for the current fiscal year.

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.

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

Receive News & Ratings for Summit Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Midstream Partners LP and related companies with Analyst Ratings Network's FREE daily email newsletter.