Summit Midstream Partners (NYSE:SMLP) Upgraded 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 note issued to investors on Monday.

Summit Midstream Partners Price Performance

Shares of Summit Midstream Partners stock traded up $1.21 on Monday, hitting $35.24. The company’s stock had a trading volume of 150,604 shares, compared to its average volume of 46,961. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.73 and a current ratio of 0.73. Summit Midstream Partners has a 1 year low of $13.00 and a 1 year high of $36.00. The firm has a fifty day moving average price of $25.36 and a 200-day moving average price of $20.60. The company has a market capitalization of $367.15 million, a price-to-earnings ratio of 4.91 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) EPS 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.

Insiders Place Their Bets

In other Summit Midstream Partners news, insider James David Johnston sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $25.21, for a total transaction of $85,714.00. Following the completion of the sale, the insider now directly owns 48,201 shares in the company, valued at approximately $1,215,147.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 8,000 shares of company stock worth $179,459. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Summit Midstream Partners

A hedge fund recently bought a new stake in Summit Midstream Partners stock. Tower Research Capital LLC TRC purchased a new stake in Summit Midstream Partners, LP (NYSE:SMLP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,660 shares of the pipeline company’s stock, valued at approximately $48,000. Institutional investors own 42.97% of the company’s stock.

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.