StockNews.com upgraded shares of Summit Midstream Partners (NYSE:SMLP – Free Report) from a buy rating to a strong-buy rating in a research note released on Monday.
Summit Midstream Partners Price Performance
SMLP stock opened at $34.04 on Monday. The stock has a market capitalization of $354.70 million, a price-to-earnings ratio of 4.75 and a beta of 2.32. The stock’s fifty day simple moving average is $25.96 and its 200-day simple moving average is $20.82. Summit Midstream Partners has a 52-week low of $13.00 and a 52-week high of $36.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.34.
Summit Midstream Partners (NYSE:SMLP – Get Free Report) last issued its quarterly earnings results on Friday, March 15th. The pipeline company reported ($1.29) earnings per share (EPS) for the quarter. Summit Midstream Partners had a return on equity of 26.81% and a net margin of 23.24%. The business had revenue of $127.32 million during the quarter.
Insider Buying and Selling
Hedge Funds Weigh In On Summit Midstream Partners
An institutional investor recently bought a new position in Summit Midstream Partners stock. Tower Research Capital LLC TRC acquired a new position in shares of Summit Midstream Partners, LP (NYSE:SMLP – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,660 shares of the pipeline company’s stock, valued at approximately $48,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.
About Summit Midstream Partners
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.
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