Summit Midstream Partners (NYSE:SMLP) Receives Sell Rating from Barclays

Barclays restated their sell rating on shares of Summit Midstream Partners (NYSE:SMLP) in a report released on Thursday morning, AnalystRatings.com reports. They currently have a $3.00 price objective on the pipeline company’s stock.

SMLP has been the topic of a number of other reports. ValuEngine upgraded shares of Summit Midstream Partners from a sell rating to a hold rating in a research note on Tuesday, December 3rd. SunTrust Banks decreased their target price on shares of Summit Midstream Partners from $7.00 to $6.00 and set a hold rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Co reiterated a hold rating on shares of Summit Midstream Partners in a research report on Monday, December 9th. Finally, Zacks Investment Research raised shares of Summit Midstream Partners from a sell rating to a hold rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.56.

SMLP opened at $3.50 on Thursday. Summit Midstream Partners has a 12 month low of $2.81 and a 12 month high of $14.45. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market cap of $292.10 million, a P/E ratio of 58.33 and a beta of 1.54. The stock’s 50 day moving average price is $3.69 and its 200 day moving average price is $5.42.

Summit Midstream Partners (NYSE:SMLP) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.37). Summit Midstream Partners had a positive return on equity of 6.81% and a negative net margin of 0.88%. The business had revenue of $100.19 million for the quarter, compared to analyst estimates of $115.74 million. Equities analysts anticipate that Summit Midstream Partners will post 0.16 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in SMLP. Full Sail Capital LLC bought a new stake in Summit Midstream Partners in the third quarter worth about $39,000. Wiley BROS. Aintree Capital LLC acquired a new position in shares of Summit Midstream Partners in the 3rd quarter worth approximately $208,000. Private Advisor Group LLC acquired a new position in shares of Summit Midstream Partners in the 2nd quarter worth approximately $120,000. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Summit Midstream Partners by 61.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 17,000 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Summit Midstream Partners in the 3rd quarter worth approximately $83,000. 29.55% of the stock is currently owned by hedge funds and other institutional investors.

Summit Midstream Partners 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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Analyst Recommendations for Summit Midstream Partners (NYSE:SMLP)

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