Summit Midstream Partners (NYSE:SMLP) Share Price Passes Above Two Hundred Day Moving Average of $19.94

Shares of Summit Midstream Partners, LP (NYSE:SMLP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.94 and traded as high as $28.21. Summit Midstream Partners shares last traded at $27.84, with a volume of 14,389 shares changing hands.

Summit Midstream Partners Price Performance

The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $289.98 million, a PE ratio of -4.55 and a beta of 2.33. The company’s 50-day simple moving average is $23.41 and its 200-day simple moving average is $19.94.

Summit Midstream Partners (NYSE:SMLP) last announced its earnings results on Friday, March 15th. The pipeline company reported ($1.29) earnings per share for the quarter. The business had revenue of $127.32 million for the quarter. Summit Midstream Partners had a negative return on equity of 4.72% and a negative net margin of 8.49%.

Insider Activity

In other news, insider James David Johnston sold 3,400 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $25.21, for a total value of $85,714.00. Following the completion of the sale, the insider now owns 48,201 shares in the company, valued at approximately $1,215,147.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 8,000 shares of company stock valued at $179,459. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Summit Midstream Partners

A number of large investors have recently modified their holdings of SMLP. Tower Research Capital LLC TRC purchased a new stake in shares of Summit Midstream Partners in the fourth quarter valued at approximately $48,000. Valeo Financial Advisors LLC purchased a new stake in shares of Summit Midstream Partners during the 3rd quarter worth $209,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Summit Midstream Partners during the 4th quarter worth $232,000. 42.97% of the stock is 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, compression, treating, and processing services, as well as crude oil and produced water gathering and freshwater delivery services.