Summit Midstream Partners, LP (NYSE:SMC) Short Interest Down 16.5% in January

Summit Midstream Partners, LP (NYSE:SMC) was the recipient of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 249,985 shares, a decrease of 16.5% from the January 15th total of 299,318 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average trading volume of 47,701 shares, the short-interest ratio is presently 5.2 days. Based on an average trading volume of 47,701 shares, the short-interest ratio is presently 5.2 days. Approximately 1.4% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Summit Redstone set a $47.00 price objective on shares of Summit Midstream Partners in a report on Thursday, December 18th. Noble Financial began coverage on shares of Summit Midstream Partners in a research report on Thursday, December 18th. They set an “outperform” rating and a $47.00 target price on the stock. Zacks Research raised Summit Midstream Partners to a “hold” rating in a research note on Friday, December 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Midstream Partners in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Summit Midstream Partners in the 2nd quarter valued at approximately $25,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Summit Midstream Partners during the second quarter valued at $56,000. New York State Common Retirement Fund acquired a new position in shares of Summit Midstream Partners in the 2nd quarter valued at $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Summit Midstream Partners by 5,417.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,517 shares of the company’s stock worth $135,000 after acquiring an additional 5,417 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Summit Midstream Partners during the 4th quarter valued at about $186,000. Hedge funds and other institutional investors own 42.97% of the company’s stock.

Summit Midstream Partners Trading Down 0.2%

Shares of Summit Midstream Partners stock traded down $0.07 on Tuesday, hitting $29.04. 43,408 shares of the company traded hands, compared to its average volume of 43,347. The company has a market cap of $545.62 million, a PE ratio of -1.59 and a beta of 0.96. Summit Midstream Partners has a 52 week low of $19.13 and a 52 week high of $45.89. The stock’s 50 day moving average price is $27.37 and its 200-day moving average price is $24.26.

About Summit Midstream Partners

Summit Midstream Partners is a publicly traded master limited partnership that provides gathering, compression, processing and transportation services for natural gas, natural gas liquids (NGLs) and crude oil in key U.S. onshore basins. The company’s assets include a network of intrastate and interstate pipelines, processing plants, fractionators and storage facilities designed to serve producers, marketers and end users throughout the Appalachian, Gulf Coast, Mid-Continent and Western Canadian Sedimentary basins.

In the Appalachian region, Summit operates extensive gathering lines and multiple gas-processing complexes connected to the Mountaineer NGL Hub, one of the largest fractionation and storage hubs in the Mid-Atlantic.