FY2019 EPS Estimates for Summit Midstream Partners LP (SMLP) Lifted by US Capital Advisors

Summit Midstream Partners LP (NYSE:SMLP) – Equities researchers at US Capital Advisors lifted their FY2019 earnings per share (EPS) estimates for shares of Summit Midstream Partners in a research note issued on Wednesday. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $0.99 for the year, up from their previous forecast of $0.94.

Several other equities analysts also recently weighed in on the company. Credit Suisse Group assumed coverage on Summit Midstream Partners in a research note on Thursday, January 4th. They issued an “outperform” rating and a $22.00 price objective for the company. ValuEngine downgraded Summit Midstream Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research raised Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, November 15th. Finally, BidaskClub raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. 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 company. The company has an average rating of “Hold” and a consensus price target of $24.50.

Summit Midstream Partners (SMLP) traded up $0.25 during midday trading on Friday, reaching $22.00. The company had a trading volume of 181,027 shares, compared to its average volume of 162,138. Summit Midstream Partners has a 12-month low of $18.30 and a 12-month high of $26.50. The stock has a market cap of $1,590.00, a P/E ratio of 15.07 and a beta of 1.65. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12.

Summit Midstream Partners (NYSE:SMLP) last released its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $1.22 earnings per share for the quarter. Summit Midstream Partners had a return on equity of 11.61% and a net margin of 24.14%.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA purchased a new stake in shares of Summit Midstream Partners in the third quarter valued at $105,000. Alliancebernstein L.P. grew its position in shares of Summit Midstream Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock valued at $227,000 after purchasing an additional 560 shares during the period. Institutional & Family Asset Management LLC purchased a new stake in shares of Summit Midstream Partners in the third quarter valued at $309,000. Stifel Financial Corp grew its position in shares of Summit Midstream Partners by 97.4% in the second quarter. Stifel Financial Corp now owns 22,140 shares of the pipeline company’s stock valued at $501,000 after purchasing an additional 10,925 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of Summit Midstream Partners by 4.2% in the second 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. 48.77% of the stock is owned by institutional investors.

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Summit Midstream Partners Company Profile

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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