Summit Midstream Partners, LP (NYSE:SMLP) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $18.55 and last traded at $19.10, with a volume of 42500 shares changing hands. The stock had previously closed at $19.15.

Several brokerages have issued reports on SMLP. Zacks Investment Research lowered shares of Summit Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. ValuEngine raised shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. BidaskClub raised shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Finally, Robert W. Baird lowered their target price on shares of Summit Midstream Partners from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Summit Midstream Partners presently has a consensus rating of “Hold” and an average price target of $25.50.

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $1,400.00, a price-to-earnings ratio of 11.51 and a beta of 1.69.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th were issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 12.40%. The ex-dividend date was Monday, November 6th. Summit Midstream Partners’s dividend payout ratio is currently 157.53%.

A number of large investors have recently modified their holdings of the business. HMI Capital LLC grew its holdings in Summit Midstream Partners by 0.8% during the 3rd quarter. HMI Capital LLC now owns 5,154,264 shares of the pipeline company’s stock worth $103,085,000 after acquiring an additional 39,955 shares during the last quarter. Harvest Fund Advisors LLC grew its holdings in Summit Midstream Partners by 14.9% during the 3rd quarter. Harvest Fund Advisors LLC now owns 3,365,477 shares of the pipeline company’s stock worth $67,310,000 after acquiring an additional 437,548 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in Summit Midstream Partners by 0.6% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,157,570 shares of the pipeline company’s stock worth $63,148,000 after acquiring an additional 19,570 shares during the last quarter. Center Coast Capital Advisors LP grew its holdings in Summit Midstream Partners by 3.7% during the 3rd quarter. Center Coast Capital Advisors LP now owns 1,445,112 shares of the pipeline company’s stock worth $28,902,000 after acquiring an additional 51,396 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Summit Midstream Partners by 3.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,068,307 shares of the pipeline company’s stock worth $24,197,000 after acquiring an additional 36,213 shares during the last quarter. 49.79% of the stock is currently owned by hedge funds and other institutional investors.

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About Summit Midstream Partners

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.

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