Summit Midstream (NYSE:SMLP) insider Louise E. Matthews sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $14.55, for a total value of $14,550.00. Following the completion of the sale, the insider now owns 71,225 shares in the company, valued at approximately $1,036,323.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of SMLP stock opened at $13.95 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.96. Summit Midstream has a twelve month low of $13.10 and a twelve month high of $24.75. The firm has a market cap of $1,010.49, a P/E ratio of 8.51 and a beta of 1.77.
Summit Midstream (NYSE:SMLP) last announced its quarterly earnings data on Thursday, February 22nd. The pipeline company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Summit Midstream had a return on equity of 12.62% and a net margin of 17.59%. The business had revenue of $126.20 million during the quarter. research analysts expect that Summit Midstream will post 0.8 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Brookfield Asset Management Inc. acquired a new position in Summit Midstream in the 4th quarter worth about $29,625,000. HMI Capital LLC increased its holdings in Summit Midstream by 12.7% in the 4th quarter. HMI Capital LLC now owns 5,806,686 shares of the pipeline company’s stock worth $119,037,000 after purchasing an additional 652,422 shares in the last quarter. Harvest Fund Advisors LLC increased its holdings in Summit Midstream by 14.9% in the 3rd quarter. Harvest Fund Advisors LLC now owns 3,365,477 shares of the pipeline company’s stock worth $67,310,000 after purchasing an additional 437,548 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Summit Midstream by 5.5% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 3,329,950 shares of the pipeline company’s stock worth $68,258,000 after purchasing an additional 172,380 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Summit Midstream by 28.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 676,736 shares of the pipeline company’s stock worth $13,738,000 after purchasing an additional 151,725 shares in the last quarter. Institutional investors and hedge funds own 50.37% of the company’s stock.
A number of research firms recently weighed in on SMLP. ValuEngine lowered Summit Midstream from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Credit Suisse Group began coverage on Summit Midstream in a report on Thursday, January 4th. They issued an “outperform” rating and a $22.00 price objective on the stock. SunTrust Banks set a $24.00 price objective on Summit Midstream and gave the company a “hold” rating in a report on Monday, January 29th. Zacks Investment Research lowered Summit Midstream from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Summit Midstream in a report on Tuesday, March 6th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Summit Midstream presently has a consensus rating of “Hold” and an average price target of $21.43.
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Summit Midstream Company Profile
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, treating, and processing services, as well as crude oil and produced water gathering services.
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