Summit Midstream Partners, LP (NYSE:SMLP) Expected to Post Earnings of -$1.45 Per Share

Equities research analysts predict that Summit Midstream Partners, LP (NYSE:SMLPGet Rating) will report earnings per share of ($1.45) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Summit Midstream Partners’ earnings. Summit Midstream Partners posted earnings per share of $0.83 during the same quarter last year, which would suggest a negative year over year growth rate of 274.7%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Summit Midstream Partners will report full year earnings of ($5.74) per share for the current financial year. For the next year, analysts forecast that the business will post earnings of ($4.93) per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Summit Midstream Partners.

Summit Midstream Partners (NYSE:SMLPGet Rating) last released its quarterly earnings data on Friday, February 25th. The pipeline company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($2.14). The company had revenue of $99.21 million during the quarter. Summit Midstream Partners had a negative net margin of 7.28% and a positive return on equity of 0.32%. During the same period last year, the business posted $4.97 earnings per share.

SMLP has been the subject of several research reports. StockNews.com initiated coverage on shares of Summit Midstream Partners in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of Summit Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, April 29th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.67.

A number of hedge funds and other institutional investors have recently modified their holdings of SMLP. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Summit Midstream Partners in the 4th quarter worth $300,000. AEGON USA Investment Management LLC lifted its stake in shares of Summit Midstream Partners by 105.5% in the fourth quarter. AEGON USA Investment Management LLC now owns 19,288 shares of the pipeline company’s stock worth $428,000 after buying an additional 9,900 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Summit Midstream Partners in the third quarter worth about $340,000. First Trust Advisors LP boosted its position in Summit Midstream Partners by 10.3% during the first quarter. First Trust Advisors LP now owns 78,177 shares of the pipeline company’s stock worth $761,000 after acquiring an additional 7,284 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Summit Midstream Partners by 3.8% during the 4th quarter. Bank of America Corp DE now owns 195,365 shares of the pipeline company’s stock valued at $4,337,000 after acquiring an additional 7,129 shares in the last quarter. 24.93% of the stock is owned by institutional investors.

Summit Midstream Partners stock opened at $20.94 on Monday. The stock has a market cap of $209.90 million, a price-to-earnings ratio of -4.04 and a beta of 2.55. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.10 and a quick ratio of 1.10. Summit Midstream Partners has a 1 year low of $13.91 and a 1 year high of $46.64. The firm has a 50-day moving average of $16.11 and a two-hundred day moving average of $22.90.

About Summit Midstream Partners (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.

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Earnings History and Estimates for Summit Midstream Partners (NYSE:SMLP)

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