Summit Midstream Partners (NYSE:SMLP) is scheduled to be releasing its earnings data after the market closes on Thursday, November 8th. Analysts expect Summit Midstream Partners to post earnings of $0.25 per share for the quarter.
Shares of NYSE:SMLP opened at $15.14 on Wednesday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 9.23 and a beta of 1.59. Summit Midstream Partners has a 12-month low of $13.10 and a 12-month high of $22.95. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 1.11.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 15.19%. The ex-dividend date of this dividend is Tuesday, November 6th. Summit Midstream Partners’s payout ratio is 140.24%.
In other news, insider Brock M. Degeyter sold 3,000 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $16.85, for a total value of $50,550.00. Following the completion of the transaction, the insider now owns 54,744 shares in the company, valued at $922,436.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brad N. Graves sold 5,000 shares of Summit Midstream Partners stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $14.84, for a total value of $74,200.00. Following the completion of the sale, the insider now directly owns 36,225 shares of the company’s stock, valued at approximately $537,579. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock valued at $210,800 in the last 90 days.
A number of brokerages have issued reports on SMLP. SunTrust Banks set a $19.00 price objective on Summit Midstream Partners and gave the company a “hold” rating in a research note on Sunday, August 5th. Royal Bank of Canada reiterated a “buy” rating and set a $20.00 price objective on shares of Summit Midstream Partners in a research note on Tuesday, August 7th. ValuEngine upgraded Summit Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 23rd. Barclays boosted their price target on Summit Midstream Partners from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research cut Summit Midstream Partners from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.56.
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Summit Midstream Partners Company Profile
Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, treating, and processing services, as well as crude oil and produced water gathering services.
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