Headlines about Summit Midstream Partners (NYSE:SMLP) have been trending positive this week, AlphaOne Sentiment Analysis reports. The research group, a unit of Accern, scores the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. AlphaOne ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Summit Midstream Partners earned a news sentiment score of 0.44 on AlphaOne’s scale. AlphaOne also assigned media stories about the pipeline company an impact score of 50 out of 100, meaning that recent media coverage is somewhat likely to have an impact on the stock’s share price in the near future.
Here are some of the media stories that may have impacted Alpha One Sentiment’s rankings:
- Summit Midstream Partners (SMLP) Earns Daily Coverage Optimism Score of -0.12 (americanbankingnews.com)
- Analysts Anticipate Summit Midstream Partners LP (SMLP) Will Post Quarterly Sales of $100.45 Million (americanbankingnews.com)
- Summit Midstream Partners (SMLP) Earns News Impact Rating of 0.28 (americanbankingnews.com)
- $0.08 Earnings Per Share Expected for Summit Midstream Partners LP (SMLP) This Quarter (americanbankingnews.com)
Shares of Summit Midstream Partners (NYSE:SMLP) opened at 23.85 on Friday. The company’s market cap is $1.72 billion. Summit Midstream Partners has a 52 week low of $18.60 and a 52 week high of $26.50. The company’s 50-day moving average price is $23.51 and its 200 day moving average price is $23.49.
Several research analysts have issued reports on the company. Zacks Investment Research cut Summit Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, January 18th. Wells Fargo & Co raised Summit Midstream Partners from a “market perform” rating to a “buy” rating in a research report on Wednesday, January 11th. Credit Suisse Group AG cut Summit Midstream Partners from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $28.00 in a research report on Friday, January 27th. Barclays PLC reaffirmed an “equal weight” rating and set a $25.00 price objective (down from $27.00) on shares of Summit Midstream Partners in a research report on Tuesday, March 14th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $28.00 price objective on shares of Summit Midstream Partners in a research report on Friday, January 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $26.14.
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In other news, insider Steven J. Newby sold 29,000 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $23.23, for a total transaction of $673,670.00. Following the transaction, the insider now owns 23,812 shares in the company, valued at approximately $553,152.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Summit Midstream Partners, Llc sold 4,000,000 shares of the firm’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $23.66, for a total transaction of $94,640,000.00. The disclosure for this sale can be found here.
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.
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