Summit Midstream Partners (NYSE:SMLP) Now Covered by StockNews.com

Stock analysts at StockNews.com started coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a research report issued to clients and investors on Wednesday. The firm set a “strong-buy” rating on the pipeline company’s stock.

Summit Midstream Partners Trading Up 3.7 %

Shares of NYSE:SMLP opened at $38.05 on Wednesday. The company has a 50 day moving average of $34.60 and a 200-day moving average of $27.47. The firm has a market cap of $405.23 million, a P/E ratio of 5.31 and a beta of 2.41. Summit Midstream Partners has a twelve month low of $13.00 and a twelve month high of $38.05. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.51.

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

Insider Transactions at Summit Midstream Partners

In related news, Director Jerry L. Peters sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $34.03, for a total transaction of $340,300.00. Following the completion of the sale, the director now directly owns 30,239 shares of the company’s stock, valued at $1,029,033.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.30% of the company’s stock.

Institutional Trading of Summit Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new stake in Summit Midstream Partners during the fourth quarter valued at approximately $48,000. Pekin Hardy Strauss Inc. acquired a new stake in Summit Midstream Partners during the fourth quarter valued at approximately $232,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Summit Midstream Partners during the second quarter valued at approximately $386,000. Finally, Cetera Advisors LLC lifted its position in shares of Summit Midstream Partners by 3.5% in the 1st quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock valued at $377,000 after acquiring an additional 450 shares in the last quarter. 42.97% of the stock is owned by institutional investors and hedge funds.

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.