Summit Midstream Partners, LP (NYSE:SMLP – Get Rating) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 48,200 shares, an increase of 29.2% from the March 15th total of 37,300 shares. Based on an average daily volume of 75,900 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.6% of the company’s stock are short sold.
SMLP stock traded up $0.88 during midday trading on Monday, hitting $16.41. The company’s stock had a trading volume of 460 shares, compared to its average volume of 73,482. Summit Midstream Partners has a 12 month low of $13.91 and a 12 month high of $46.64. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s 50-day moving average is $17.49 and its 200-day moving average is $24.81.
Summit Midstream Partners (NYSE:SMLP – Get Rating) last announced its earnings results on Friday, February 25th. The pipeline company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.14). The company had revenue of $99.21 million for the quarter. Summit Midstream Partners had a negative net margin of 4.98% and a positive return on equity of 1.53%. During the same period in the previous year, the company posted $4.97 EPS. As a group, research analysts forecast that Summit Midstream Partners will post -1.92 earnings per share for the current fiscal year.
A number of brokerages have recently commented on SMLP. StockNews.com initiated coverage on Summit Midstream Partners in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, March 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.67.
Summit Midstream Partners Company Profile (Get Rating)
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 services.
- Get a free copy of the StockNews.com research report on Summit Midstream Partners (SMLP)
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