Summit Midstream Partners (NYSE:SMLP) Share Price Crosses Above Two Hundred Day Moving Average of $19.42

Shares of Summit Midstream Partners, LP (NYSE:SMLP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.42 and traded as high as $28.19. Summit Midstream Partners shares last traded at $28.19, with a volume of 11,478 shares traded.

Summit Midstream Partners Stock Down 0.2 %

The firm has a market capitalization of $293.74 million, a P/E ratio of -4.61 and a beta of 2.33. The firm’s 50-day moving average is $21.82 and its 200 day moving average is $19.42. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.73 and a current ratio of 0.73.

Summit Midstream Partners (NYSE:SMLP) last posted its quarterly earnings data on Friday, March 15th. The pipeline company reported ($1.29) EPS for the quarter. The business had revenue of $127.32 million for the quarter. Summit Midstream Partners had a negative return on equity of 4.72% and a negative net margin of 8.49%.

Insider Activity

In related news, insider James David Johnston sold 3,400 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $25.21, for a total value of $85,714.00. Following the transaction, the insider now owns 48,201 shares in the company, valued at approximately $1,215,147.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 8,000 shares of company stock valued at $179,459 in the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Summit Midstream Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in Summit Midstream Partners by 15.2% in the 1st quarter. Bank of America Corp DE now owns 477,951 shares of the pipeline company’s stock valued at $7,337,000 after purchasing an additional 63,049 shares during the period. Nomura Holdings Inc. raised its holdings in Summit Midstream Partners by 55.8% in the 1st quarter. Nomura Holdings Inc. now owns 406,814 shares of the pipeline company’s stock valued at $6,245,000 after acquiring an additional 145,655 shares in the last quarter. Ares Management LLC lifted its position in shares of Summit Midstream Partners by 31.3% during the 1st quarter. Ares Management LLC now owns 356,628 shares of the pipeline company’s stock valued at $5,307,000 after acquiring an additional 85,000 shares during the period. Goldman Sachs Group Inc. grew its stake in Summit Midstream Partners by 8.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 290,075 shares of the pipeline company’s stock worth $5,195,000 after buying an additional 23,260 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Summit Midstream Partners by 52.6% during the 1st quarter. JPMorgan Chase & Co. now owns 232,801 shares of the pipeline company’s stock worth $3,464,000 after acquiring an additional 80,214 shares in the last quarter. Institutional investors and hedge funds own 42.97% of the company’s stock.

Summit Midstream Partners Company Profile

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.