Summit Midstream Partners (NYSE:SMLP) received a $24.00 price objective from SunTrust Banks in a report issued on Monday, January 29th. The brokerage currently has a “hold” rating on the pipeline company’s stock. SunTrust Banks’ target price would suggest a potential upside of 17.65% from the company’s previous close.
Several other analysts have also commented on SMLP. ValuEngine raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. BidaskClub raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Credit Suisse Group assumed coverage on Summit Midstream Partners in a research note on Thursday, January 4th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research raised Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Summit Midstream Partners presently has an average rating of “Hold” and a consensus target price of $24.43.
Shares of Summit Midstream Partners (SMLP) opened at $20.40 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1,524.55, a price-to-earnings ratio of 13.97 and a beta of 1.64. Summit Midstream Partners has a one year low of $18.30 and a one year high of $24.90.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA bought a new stake in shares of Summit Midstream Partners during the third quarter worth $105,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Summit Midstream Partners during the fourth quarter worth $211,000. Alliancebernstein L.P. raised its position in shares of Summit Midstream Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock worth $227,000 after acquiring an additional 560 shares during the last quarter. Institutional & Family Asset Management LLC bought a new stake in shares of Summit Midstream Partners during the third quarter worth $309,000. Finally, Stifel Financial Corp raised its position in shares of Summit Midstream Partners by 97.4% during the second quarter. Stifel Financial Corp now owns 22,140 shares of the pipeline company’s stock worth $501,000 after acquiring an additional 10,925 shares during the last quarter. Institutional investors own 48.79% of the company’s stock.
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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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