StockNews.com Begins Coverage on Summit Midstream Partners (NYSE:SMLP)

StockNews.com assumed coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a research report sent to investors on Saturday morning. The firm issued a strong-buy rating on the pipeline company’s stock.

Summit Midstream Partners Price Performance

Shares of Summit Midstream Partners stock opened at $35.36 on Friday. The stock has a market cap of $368.45 million, a price-to-earnings ratio of 4.93 and a beta of 2.41. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.64 and a current ratio of 2.64. The stock has a 50 day moving average price of $32.70 and a 200-day moving average price of $24.66. Summit Midstream Partners has a one year low of $13.00 and a one year high of $36.78.

Summit Midstream Partners (NYSE:SMLP) last announced its earnings results on Thursday, May 2nd. The pipeline company reported $16.36 EPS for the quarter. The firm had revenue of $118.87 million during the quarter. Summit Midstream Partners had a return on equity of 25.67% and a net margin of 23.24%.

Insider Activity at Summit Midstream Partners

In related news, Director Jerry L. Peters sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $34.03, for a total transaction of $340,300.00. Following the completion of the transaction, the director now owns 30,239 shares in the company, valued at approximately $1,029,033.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Summit Midstream Partners

A number of institutional investors and hedge funds have recently bought and sold shares of SMLP. Tower Research Capital LLC TRC bought a new stake in Summit Midstream Partners during the 4th quarter valued at $48,000. Pekin Hardy Strauss Inc. bought a new stake in Summit Midstream Partners during the 4th quarter valued at $232,000. Finally, Cetera Advisors LLC raised its position in Summit Midstream Partners by 3.5% during the 1st quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock valued at $377,000 after purchasing an additional 450 shares in the last quarter. 42.97% of the stock is owned by 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.