Summit Midstream Partners (NYSE:SMLP) Rating Increased to Strong-Buy at StockNews.com

Summit Midstream Partners (NYSE:SMLP) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

Summit Midstream Partners Trading Down 0.3 %

SMLP opened at $35.00 on Monday. Summit Midstream Partners has a twelve month low of $13.00 and a twelve month high of $36.00. 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 fifty day moving average of $25.67 and a 200-day moving average of $20.72. The stock has a market cap of $364.70 million, a PE ratio of 4.88 and a beta of 2.32.

Summit Midstream Partners (NYSE:SMLP) last posted its quarterly earnings data on Friday, March 15th. The pipeline company reported ($1.29) earnings per share for the quarter. Summit Midstream Partners had a return on equity of 26.81% and a net margin of 23.24%. The firm had revenue of $127.32 million for the quarter.

Insider Buying and Selling at Summit Midstream Partners

In other Summit Midstream Partners news, insider James David Johnston sold 3,400 shares of the firm’s stock in a transaction on 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 directly owns 48,201 shares of the company’s stock, valued at $1,215,147.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 8,000 shares of company stock valued at $179,459. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Summit Midstream Partners stock. Tower Research Capital LLC TRC acquired a new position in shares of Summit Midstream Partners, LP (NYSE:SMLP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,660 shares of the pipeline company’s stock, valued at approximately $48,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

About Summit Midstream Partners

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.