Noble Financial Has Strong Forecast for SMC FY2026 Earnings

Summit Midstream Partners, LP (NYSE:SMC) – Noble Financial boosted their FY2026 EPS estimates for shares of Summit Midstream Partners in a research report issued on Wednesday, November 11th. Noble Financial analyst M. Reichman now forecasts that the company will post earnings per share of $0.63 for the year, up from their previous estimate of $0.40. The consensus estimate for Summit Midstream Partners’ current full-year earnings is $0.40 per share. Noble Financial also issued estimates for Summit Midstream Partners’ FY2027 earnings at $1.59 EPS.

SMC has been the subject of several other research reports. Weiss Ratings lowered Summit Midstream Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Zacks Research cut Summit Midstream Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. Summit Redstone set a $39.00 price target on Summit Midstream Partners in a report on Monday, August 3rd. Finally, TD Cowen raised their price target on Summit Midstream Partners from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Summit Midstream Partners Stock Up 1.4%

Summit Midstream Partners stock opened at $31.34 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.25 and a quick ratio of 0.94. Summit Midstream Partners has a 1-year low of $22.71 and a 1-year high of $36.47. The company’s 50-day moving average is $31.37 and its 200 day moving average is $30.68.

Summit Midstream Partners (NYSE:SMC) last released its quarterly earnings results on Monday, November 9th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.46. The firm had revenue of $183.01 million during the quarter, compared to analysts’ expectations of $158.60 million. Summit Midstream Partners had a net margin of 1.61% and a return on equity of 1.17%.

Institutional Investors Weigh In On Summit Midstream Partners

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Summit Midstream Partners by 1.6% in the 3rd quarter. State Street Corp now owns 187,463 shares of the company’s stock valued at $5,667,000 after buying an additional 2,917 shares during the period. Empowered Funds LLC grew its stake in Summit Midstream Partners by 9.8% in the 1st quarter. Empowered Funds LLC now owns 89,796 shares of the company’s stock worth $2,715,000 after acquiring an additional 8,037 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Summit Midstream Partners by 104.1% during the first quarter. Cetera Investment Advisers now owns 56,533 shares of the company’s stock worth $1,710,000 after acquiring an additional 28,840 shares during the period. Russell Investments Group Ltd. increased its position in shares of Summit Midstream Partners by 339.9% during the third quarter. Russell Investments Group Ltd. now owns 31,465 shares of the company’s stock worth $951,000 after acquiring an additional 24,313 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Summit Midstream Partners during the first quarter worth approximately $680,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP James Johnston sold 2,600 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $30.51, for a total transaction of $79,326.00. Following the completion of the sale, the vice president directly owned 72,757 shares of the company’s stock, valued at approximately $2,219,816.07. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 42.96% of the company’s stock.

About Summit Midstream Partners

Summit Midstream Corporation, formerly Summit Midstream Partners, is a midstream energy company that provides infrastructure and services to natural gas and crude oil producers. Its operations include gathering, compressing, treating and processing natural gas, as well as gathering and handling crude oil and produced water. The company’s assets serve production areas including the Williston Basin in North Dakota, the Piceance and Denver-Julesburg basins in Colorado, the Permian Basin in Texas and the Barnett Shale in Texas.