Summit Midstream Partners, LP (SMLP) Given Consensus Rating of “Hold” by Brokerages

Shares of Summit Midstream Partners, LP (NYSE:SMLP) have received a consensus rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $28.50.

Several analysts have issued reports on the company. Zacks Investment Research downgraded Summit Midstream Partners, from a “hold” rating to a “sell” rating in a report on Saturday, May 6th. Barclays PLC restated an “equal weight” rating and set a $25.00 price objective (down previously from $27.00) on shares of Summit Midstream Partners, in a report on Tuesday, March 14th. ValuEngine downgraded Summit Midstream Partners, from a “hold” rating to a “sell” rating in a report on Saturday, May 27th. Royal Bank Of Canada restated a “buy” rating and set a $28.00 price objective on shares of Summit Midstream Partners, in a report on Tuesday, June 6th. Finally, BidaskClub cut Summit Midstream Partners, from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 10th.

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Large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Summit Midstream Partners, by 3.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,340 shares of the pipeline company’s stock valued at $260,000 after buying an additional 340 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Summit Midstream Partners, by 8.8% in the fourth quarter. Baird Financial Group Inc. now owns 13,460 shares of the pipeline company’s stock worth $339,000 after buying an additional 1,085 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Summit Midstream Partners, by 163.1% in the fourth quarter. Renaissance Technologies LLC now owns 187,314 shares of the pipeline company’s stock worth $4,711,000 after buying an additional 116,114 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in shares of Summit Midstream Partners, during the fourth quarter worth about $3,629,000. Finally, Bank of Montreal Can bought a new stake in shares of Summit Midstream Partners, during the first quarter worth about $1,104,000. 49.98% of the stock is owned by institutional investors and hedge funds.

Summit Midstream Partners, Company Profile

Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SMLP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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