Zacks: Analysts Anticipate Summit Midstream Partners LP (SMLP) Will Announce Earnings of $0.13 Per Share

Equities research analysts expect Summit Midstream Partners LP (NYSE:SMLP) to post $0.13 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Summit Midstream Partners’ earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at ($0.04). Summit Midstream Partners reported earnings of $0.16 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 18.8%. The firm is scheduled to report its next quarterly earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Summit Midstream Partners will report full year earnings of $1.15 per share for the current financial year, with EPS estimates ranging from $0.88 to $1.42. For the next financial year, analysts anticipate that the firm will report earnings of $1.46 per share, with EPS estimates ranging from $0.99 to $1.92. Zacks’ EPS averages are an average based on a survey of research analysts that cover Summit Midstream Partners.

Several equities analysts have weighed in on the company. ValuEngine raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Credit Suisse Group assumed coverage on Summit Midstream Partners in a research report on Thursday, January 4th. They set an “outperform” rating and a $22.00 price target for the company. BidaskClub raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. SunTrust Banks set a $24.00 price target on Summit Midstream Partners and gave the stock a “hold” rating in a research report on Monday, January 29th. Finally, Zacks Investment Research raised Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Summit Midstream Partners presently has a consensus rating of “Hold” and an average target price of $24.43.

Several hedge funds have recently bought and sold shares of SMLP. BNP Paribas Arbitrage SA acquired a new stake in shares of Summit Midstream Partners during the third quarter worth $105,000. Jane Street Group LLC acquired a new stake in shares of Summit Midstream Partners during the fourth quarter worth $204,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Summit Midstream Partners during the fourth quarter worth $211,000. Alliancebernstein L.P. boosted its holdings in shares of Summit Midstream Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock worth $227,000 after purchasing an additional 560 shares during the last quarter. Finally, Institutional & Family Asset Management LLC acquired a new stake in shares of Summit Midstream Partners during the third quarter worth $309,000. Institutional investors and hedge funds own 49.18% of the company’s stock.

Summit Midstream Partners (NYSE:SMLP) opened at $17.50 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $1,479.82, a price-to-earnings ratio of 11.99 and a beta of 1.63. Summit Midstream Partners has a 1 year low of $17.25 and a 1 year high of $24.90.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 13.14%. The ex-dividend date was Tuesday, February 6th. Summit Midstream Partners’s dividend payout ratio (DPR) is 157.53%.

COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Anticipate Summit Midstream Partners LP (SMLP) Will Announce Earnings of $0.13 Per Share” was originally reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.thelincolnianonline.com/2018/02/24/zacks-analysts-anticipate-summit-midstream-partners-lp-smlp-will-announce-earnings-of-0-13-per-share.html.

About Summit Midstream Partners

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.

Get a free copy of the Zacks research report on Summit Midstream Partners (SMLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Leave a Reply