Summit Midstream Partners (NYSE:SMLP) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a research report released on Sunday morning. The firm issued a strong-buy rating on the pipeline company’s stock.

Summit Midstream Partners Trading Down 1.5 %

SMLP opened at $33.93 on Friday. The stock has a market cap of $353.55 million, a PE ratio of 4.73 and a beta of 2.41. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average of $33.57 and a 200-day moving average of $25.43. Summit Midstream Partners has a 52 week low of $13.00 and a 52 week high of $36.78.

Summit Midstream Partners (NYSE:SMLP) last released its earnings results on Thursday, May 2nd. The pipeline company reported $16.36 EPS for the quarter. The company had revenue of $118.87 million during the quarter. Summit Midstream Partners had a return on equity of 25.67% and a net margin of 23.24%.

Insider Activity

In other news, Director Jerry L. Peters sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $34.03, for a total value of $340,300.00. Following the completion of the transaction, the director now owns 30,239 shares in the company, valued at approximately $1,029,033.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new position in Summit Midstream Partners during the fourth quarter valued at $48,000. Pekin Hardy Strauss Inc. purchased a new position in Summit Midstream Partners during the fourth quarter valued at $232,000. Finally, Cetera Advisors LLC raised its stake in Summit Midstream Partners by 3.5% during the first quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock valued at $377,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 42.97% of the company’s stock.

About Summit Midstream Partners

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, compression, treating, and processing services, as well as crude oil and produced water gathering and freshwater delivery services.