Summit Midstream Partners (NYSE:SMLP) Share Price Passes Above Two Hundred Day Moving Average of $19.94

Summit Midstream Partners, LP (NYSE:SMLP)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.94 and traded as high as $28.21. Summit Midstream Partners shares last traded at $27.84, with a volume of 14,389 shares.

Summit Midstream Partners Stock Performance

The company’s 50-day moving average is $23.41 and its two-hundred day moving average is $19.94. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.34. The company has a market cap of $289.98 million, a P/E ratio of -4.55 and a beta of 2.33.

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

Insider Buying and Selling at Summit Midstream Partners

In related news, insider James David Johnston sold 3,400 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $25.21, for a total value of $85,714.00. Following the sale, the insider now directly owns 48,201 shares in the company, valued at approximately $1,215,147.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 8,000 shares of company stock valued at $179,459. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new position in shares of Summit Midstream Partners in the fourth quarter worth $48,000. Valeo Financial Advisors LLC purchased a new stake in Summit Midstream Partners during the 3rd quarter worth about $209,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Summit Midstream Partners during the 4th quarter worth about $232,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

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.