Summit Midstream Partners LP (NYSE:SMLP) insider Louise E. Matthews sold 1,000 shares of Summit Midstream Partners stock in a transaction on Monday, March 19th. The stock was sold at an average price of $14.55, for a total transaction of $14,550.00. Following the transaction, the insider now directly owns 71,225 shares of the company’s stock, valued at $1,036,323.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Summit Midstream Partners stock traded down $0.55 on Monday, hitting $14.25. 268,112 shares of the stock were exchanged, compared to its average volume of 265,921. The stock has a market capitalization of $1,103.71, a price-to-earnings ratio of 14.49 and a beta of 1.79. Summit Midstream Partners LP has a 1 year low of $14.00 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.13 and a quick ratio of 1.13.
Summit Midstream Partners (NYSE:SMLP) last issued its earnings results on Thursday, February 22nd. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. The firm had revenue of $126.20 million during the quarter. Summit Midstream Partners had a net margin of 17.59% and a return on equity of 12.62%. equities analysts forecast that Summit Midstream Partners LP will post 0.8 EPS for the current year.
Several research analysts have commented on the stock. ValuEngine lowered shares of Summit Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Credit Suisse Group initiated coverage on shares of Summit Midstream Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $22.00 target price for the company. SunTrust Banks set a $24.00 target price on shares of Summit Midstream Partners and gave the company a “hold” rating in a research note on Monday, January 29th. Zacks Investment Research lowered shares of Summit Midstream Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $20.00 target price on shares of Summit Midstream Partners in a research note on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.43.
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA bought a new stake in shares of Summit Midstream Partners in the third quarter valued at about $105,000. Jane Street Group LLC bought a new stake in shares of Summit Midstream Partners in the fourth quarter valued at about $204,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Summit Midstream Partners in the fourth quarter valued at about $211,000. Institutional & Family Asset Management LLC bought a new stake in shares of Summit Midstream Partners in the third quarter valued at about $309,000. Finally, Penbrook Management LLC bought a new stake in shares of Summit Midstream Partners in the fourth quarter valued at about $646,000. Hedge funds and other institutional investors own 50.36% of the company’s stock.
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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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