Kayne Anderson Capital Advisors LP Increases Holdings in Summit Midstream Partners LP (NYSE:SMLP)

Kayne Anderson Capital Advisors LP lifted its position in Summit Midstream Partners LP (NYSE:SMLP) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,157,570 shares of the pipeline company’s stock after buying an additional 19,570 shares during the period. Kayne Anderson Capital Advisors LP owned about 4.28% of Summit Midstream Partners worth $63,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. increased its holdings in Summit Midstream Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock valued at $227,000 after buying an additional 560 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Summit Midstream Partners by 4.2% in the second quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock worth $560,000 after purchasing an additional 989 shares in the last quarter. Solaris Asset Management LLC increased its stake in shares of 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 worth $119,000 after purchasing an additional 1,300 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of 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 worth $343,000 after purchasing an additional 1,514 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Summit Midstream Partners by 6.0% in the second quarter. Wells Fargo & Company MN now owns 51,647 shares of the pipeline company’s stock worth $1,170,000 after purchasing an additional 2,938 shares in the last quarter. Hedge funds and other institutional investors own 48.77% of the company’s stock.

A number of analysts have recently issued reports on the stock. BidaskClub cut shares of Summit Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Robert W. Baird dropped their target price on shares of Summit Midstream Partners from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. ValuEngine upgraded shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research upgraded shares of Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.50.

Summit Midstream Partners LP (SMLP) traded up $0.10 during trading hours on Thursday, hitting $19.30. 167,725 shares of the stock were exchanged, compared to its average volume of 186,072. Summit Midstream Partners LP has a twelve month low of $18.30 and a twelve month high of $26.50. The company has a market cap of $1,453.72, a PE ratio of 11.75 and a beta of 1.66. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 11.92%. The ex-dividend date was Monday, November 6th. Summit Midstream Partners’s dividend payout ratio is currently 157.53%.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.thelincolnianonline.com/2017/12/08/kayne-anderson-capital-advisors-lp-has-63-15-million-position-in-summit-midstream-partners-lp-smlp-updated-updated.html.

Summit Midstream Partners 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.

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