StockNews.com assumed coverage on shares of Summit Midstream Partners (NYSE:SMLP – Free Report) in a report released on Thursday. The firm issued a strong-buy rating on the pipeline company’s stock.
Summit Midstream Partners Price Performance
Summit Midstream Partners stock opened at $38.05 on Thursday. Summit Midstream Partners has a 12 month low of $13.00 and a 12 month high of $38.05. The company has a market capitalization of $396.33 million, a PE ratio of 5.31 and a beta of 2.41. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.51. The stock has a 50-day moving average price of $35.21 and a two-hundred day moving average price of $28.35.
Insider Buying and Selling
In other Summit Midstream Partners news, Director Jerry L. Peters sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $34.03, for a total transaction of $340,300.00. Following the sale, the director now owns 30,239 shares in the company, valued at $1,029,033.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
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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