Credit Suisse Group initiated coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a report issued on Thursday, January 4th, MarketBeat Ratings reports. The firm issued an outperform rating and a $22.00 price objective on the pipeline company’s stock.

SMLP has been the topic of a number of other research reports. Zacks Investment Research raised shares of Summit Midstream Partners from a hold rating to a buy rating and set a $24.00 target price on the stock in a research report on Tuesday, October 10th. ValuEngine raised shares of Summit Midstream Partners from a hold rating to a buy rating in a research report on Monday, December 11th. Finally, BidaskClub lowered shares of Summit Midstream Partners from a hold rating to a sell rating in a research report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Summit Midstream Partners currently has a consensus rating of Hold and a consensus price target of $24.50.

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Shares of Summit Midstream Partners (SMLP) opened at $22.35 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. The company has a market cap of $1,630.00, a P/E ratio of 15.31 and a beta of 1.65. Summit Midstream Partners has a fifty-two week low of $18.30 and a fifty-two week high of $26.25.

Summit Midstream Partners (NYSE:SMLP) last posted its earnings results on Wednesday, November 1st. The pipeline company reported $1.22 earnings per share (EPS) for the quarter. Summit Midstream Partners had a net margin of 24.14% and a return on equity of 11.61%. analysts anticipate that Summit Midstream Partners will post 1.6 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, February 7th will be given a dividend of $0.575 per share. The ex-dividend date is Tuesday, February 6th. This represents a $2.30 annualized dividend and a yield of 10.29%. Summit Midstream Partners’s dividend payout ratio (DPR) is 157.53%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its position in Summit Midstream Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock worth $227,000 after buying an additional 560 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Summit Midstream Partners by 4.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock valued at $560,000 after purchasing an additional 989 shares during the period. Wells Fargo & Company MN lifted its position in Summit Midstream Partners by 6.0% during the 2nd quarter. Wells Fargo & Company MN now owns 51,647 shares of the pipeline company’s stock valued at $1,170,000 after purchasing an additional 2,938 shares during the period. Arrow Investment Advisors LLC lifted its position in Summit Midstream Partners by 15.2% during the 3rd quarter. Arrow Investment Advisors LLC now owns 34,052 shares of the pipeline company’s stock valued at $681,000 after purchasing an additional 4,504 shares during the period. Finally, CNH Partners LLC lifted its position in Summit Midstream Partners by 18.8% during the 2nd quarter. CNH Partners LLC now owns 31,028 shares of the pipeline company’s stock valued at $703,000 after purchasing an additional 4,900 shares during the period. Institutional investors and hedge funds own 48.78% of the company’s stock.

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About Summit Midstream Partners

Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.

Analyst Recommendations for Summit Midstream Partners (NYSE:SMLP)

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