Summit Midstream Partners, LP $SMC Shares Bought by Eagle Global Advisors LLC

Eagle Global Advisors LLC raised its holdings in shares of Summit Midstream Partners, LP (NYSE:SMC) by 35.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 264,186 shares of the company’s stock after buying an additional 68,889 shares during the quarter. Eagle Global Advisors LLC’s holdings in Summit Midstream Partners were worth $5,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ameritas Investment Partners Inc. acquired a new position in Summit Midstream Partners during the second quarter valued at $25,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Summit Midstream Partners in the 2nd quarter valued at about $56,000. New York State Common Retirement Fund acquired a new stake in Summit Midstream Partners during the second quarter worth about $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Summit Midstream Partners by 5,417.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,517 shares of the company’s stock valued at $135,000 after acquiring an additional 5,417 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in Summit Midstream Partners in the 2nd quarter worth approximately $231,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Noble Financial initiated coverage on shares of Summit Midstream Partners in a research note on Thursday, December 18th. They issued an “outperform” rating and a $47.00 target price for the company. Zacks Research raised shares of Summit Midstream Partners to a “hold” rating in a research note on Friday, December 19th. Summit Redstone set a $47.00 price target on Summit Midstream Partners in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Midstream Partners in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $47.00.

Summit Midstream Partners Price Performance

NYSE SMC opened at $26.09 on Thursday. The stock’s 50 day simple moving average is $25.61 and its 200-day simple moving average is $23.75. The company has a market cap of $490.23 million, a PE ratio of -1.43 and a beta of 0.91. Summit Midstream Partners, LP has a 1-year low of $19.13 and a 1-year high of $45.89.

Summit Midstream Partners (NYSE:SMC) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.13) EPS for the quarter. The company had revenue of $146.88 million during the quarter.

Summit Midstream Partners Profile

Summit Midstream Partners is a publicly traded master limited partnership that provides gathering, compression, processing and transportation services for natural gas, natural gas liquids (NGLs) and crude oil in key U.S. onshore basins. The company’s assets include a network of intrastate and interstate pipelines, processing plants, fractionators and storage facilities designed to serve producers, marketers and end users throughout the Appalachian, Gulf Coast, Mid-Continent and Western Canadian Sedimentary basins.

In the Appalachian region, Summit operates extensive gathering lines and multiple gas-processing complexes connected to the Mountaineer NGL Hub, one of the largest fractionation and storage hubs in the Mid-Atlantic.