Summit Midstream Partners, LP (SMLP) Shares Bought by Center Coast Capital Advisors LP

Center Coast Capital Advisors LP raised its stake in Summit Midstream Partners, LP (NYSE:SMLP) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,445,112 shares of the pipeline company’s stock after buying an additional 51,396 shares during the period. Summit Midstream Partners, makes up approximately 0.7% of Center Coast Capital Advisors LP’s holdings, making the stock its 25th largest holding. Center Coast Capital Advisors LP owned about 1.96% of Summit Midstream Partners, worth $28,902,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SMLP. BNP Paribas Arbitrage SA purchased a new position in Summit Midstream Partners, in the third quarter valued at about $105,000. Solaris Asset Management LLC increased its holdings in Summit Midstream Partners, by 32.7% in the second quarter. Solaris Asset Management LLC now owns 5,275 shares of the pipeline company’s stock valued at $119,000 after buying an additional 1,300 shares in the last quarter. Alliancebernstein L.P. purchased a new position in Summit Midstream Partners, in the first quarter valued at about $227,000. Proficio Capital Partners LLC purchased a new position in Summit Midstream Partners, in the second quarter valued at about $242,000. Finally, Global X Management Co. LLC increased its holdings in Summit Midstream Partners, by 11.1% in the second quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock valued at $343,000 after buying an additional 1,514 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Summit Midstream Partners, LP (NYSE SMLP) traded down $0.30 during mid-day trading on Tuesday, hitting $19.35. 35,602 shares of the stock traded hands, compared to its average volume of 189,794. The firm has a market capitalization of $1,494.73, a price-to-earnings ratio of 12.08, a PEG ratio of 13.92 and a beta of 1.70. Summit Midstream Partners, LP has a twelve month low of $19.15 and a twelve month high of $26.50. 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 also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be given a $0.575 dividend. The ex-dividend date is Monday, November 6th. This represents a $2.30 annualized dividend and a dividend yield of 11.89%. Summit Midstream Partners,’s dividend payout ratio is presently 157.53%.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Stock Observer and is owned by of Stock Observer. If you are accessing this article on another website, it was illegally copied and republished in violation of U.S. and international copyright and trademark law. The original version of this article can be accessed at https://www.thestockobserver.com/2017/11/14/summit-midstream-partners-lp-smlp-shares-bought-by-center-coast-capital-advisors-lp.html.

A number of research analysts have issued reports on SMLP shares. Zacks Investment Research cut shares of Summit Midstream Partners, from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Barclays PLC cut shares of Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $25.00 to $24.00 in a report on Tuesday, July 18th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $24.00 target price (up from $22.00) on shares of Summit Midstream Partners, in a report on Monday, July 24th. BidaskClub lowered shares of Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, Robert W. Baird lowered their price target on shares of Summit Midstream Partners, from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.67.

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.

Want to see what other hedge funds are holding SMLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Summit Midstream Partners, LP (NYSE:SMLP).

Institutional Ownership by Quarter for Summit Midstream Partners, (NYSE:SMLP)

Receive News & Ratings for Summit Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply