Research Analysts Offer Predictions for Summit Midstream Partners LP’s Q2 2020 Earnings (NYSE:SMLP)

Summit Midstream Partners LP (NYSE:SMLP) – Equities researchers at Capital One Financial reduced their Q2 2020 earnings estimates for shares of Summit Midstream Partners in a research report issued on Friday, August 9th. Capital One Financial analyst K. May now forecasts that the pipeline company will post earnings of $0.10 per share for the quarter, down from their previous estimate of $0.12. Capital One Financial also issued estimates for Summit Midstream Partners’ Q3 2020 earnings at $0.10 EPS, Q4 2020 earnings at $0.08 EPS and FY2020 earnings at $0.40 EPS.

Other research analysts also recently issued research reports about the stock. TheStreet downgraded shares of Summit Midstream Partners from a “c-” rating to a “d+” rating in a research report on Friday, May 17th. Zacks Investment Research downgraded shares of Summit Midstream Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Royal Bank of Canada downgraded shares of Summit Midstream Partners from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $17.00 to $10.00 in a research report on Monday, April 29th. Barclays reaffirmed a “sell” rating and issued a $6.00 target price on shares of Summit Midstream Partners in a research report on Thursday, July 18th. Finally, Citigroup downgraded shares of Summit Midstream Partners from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $6.50 in a research report on Wednesday, June 19th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Summit Midstream Partners has an average rating of “Hold” and a consensus price target of $10.81.

Shares of SMLP stock opened at $5.38 on Monday. The company has a market capitalization of $432.47 million, a P/E ratio of 89.67 and a beta of 1.59. Summit Midstream Partners has a 12-month low of $5.07 and a 12-month high of $17.45. The stock’s fifty day moving average is $7.24. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.51 and a quick ratio of 0.51.

Summit Midstream Partners (NYSE:SMLP) last issued its quarterly earnings data on Friday, August 9th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.19). Summit Midstream Partners had a return on equity of 12.03% and a net margin of 13.00%. The company had revenue of $99.69 million for the quarter, compared to the consensus estimate of $108.50 million.

A number of institutional investors have recently added to or reduced their stakes in SMLP. Bank of Montreal Can lifted its stake in Summit Midstream Partners by 3,503.5% in the first quarter. Bank of Montreal Can now owns 190,013 shares of the pipeline company’s stock valued at $1,849,000 after acquiring an additional 184,740 shares during the last quarter. Creative Planning lifted its stake in Summit Midstream Partners by 116.1% in the first quarter. Creative Planning now owns 76,300 shares of the pipeline company’s stock valued at $742,000 after acquiring an additional 41,000 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in Summit Midstream Partners by 20.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 179,233 shares of the pipeline company’s stock valued at $1,744,000 after acquiring an additional 30,000 shares during the last quarter. California Public Employees Retirement System acquired a new stake in Summit Midstream Partners in the first quarter valued at $1,545,000. Finally, Citigroup Inc. lifted its stake in Summit Midstream Partners by 174.3% in the first quarter. Citigroup Inc. now owns 289,501 shares of the pipeline company’s stock valued at $2,817,000 after acquiring an additional 183,972 shares during the last quarter. 32.30% of the stock is owned by institutional investors and hedge funds.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be given a $0.287 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 21.34%. The ex-dividend date is Tuesday, August 6th. Summit Midstream Partners’s dividend payout ratio (DPR) is currently 1,916.67%.

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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Earnings History and Estimates for Summit Midstream Partners (NYSE:SMLP)

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