Zacks Investment Research upgraded shares of Summit Midstream Partners, LP (NYSE:SMLP) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $26.00 price target on the pipeline company’s stock.

According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “

Other equities research analysts have also issued reports about the stock. Citigroup Inc. reiterated a neutral rating and set a $24.00 target price (up from $22.00) on shares of Summit Midstream Partners, in a report on Monday, July 24th. ValuEngine lowered shares of Summit Midstream Partners, from a hold rating to a sell rating in a report on Saturday, May 27th. BidaskClub upgraded shares of Summit Midstream Partners, from a strong sell rating to a sell rating in a report on Thursday, June 22nd. Barclays PLC lowered shares of Summit Midstream Partners, from an equal weight rating to an underweight rating and reduced their target price for the stock from $25.00 to $24.00 in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reiterated a buy rating and set a $28.00 target price on shares of Summit Midstream Partners, in a report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Summit Midstream Partners, currently has an average rating of Hold and an average target price of $27.17.

Summit Midstream Partners, (NYSE:SMLP) opened at 22.25 on Wednesday. The company has a 50-day moving average of $23.10 and a 200-day moving average of $23.59. The company’s market cap is $1.61 billion. Summit Midstream Partners, has a 52 week low of $19.95 and a 52 week high of $26.50.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.30 dividend on an annualized basis and a dividend yield of 10.34%. Summit Midstream Partners,’s payout ratio is -353.85%.

Large investors have recently made changes to their positions in the stock. Baird Financial Group Inc. raised its stake in shares of Summit Midstream Partners, by 1.9% in the first quarter. Baird Financial Group Inc. now owns 13,710 shares of the pipeline company’s stock worth $329,000 after buying an additional 250 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Summit Midstream Partners, by 2.8% in the first quarter. Van ECK Associates Corp now owns 68,796 shares of the pipeline company’s stock worth $1,651,000 after buying an additional 1,861 shares during the last quarter. HITE Hedge Asset Management LLC raised its stake in shares of Summit Midstream Partners, by 1.9% in the first quarter. HITE Hedge Asset Management LLC now owns 146,983 shares of the pipeline company’s stock worth $3,528,000 after buying an additional 2,694 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Summit Midstream Partners, by 0.8% in the first quarter. Westwood Holdings Group Inc. now owns 484,277 shares of the pipeline company’s stock worth $11,623,000 after buying an additional 3,790 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in shares of Summit Midstream Partners, during the first quarter worth $227,000. Institutional investors and hedge funds own 49.98% of the company’s stock.

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.

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Analyst Recommendations for Summit Midstream Partners, (NYSE:SMLP)

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