Summit Midstream Partners (NYSE:SMLP) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Summit Midstream Partners (NYSE:SMLP) in a report issued on Sunday morning. The firm issued a strong-buy rating on the pipeline company’s stock.

Summit Midstream Partners Price Performance

SMLP opened at $38.05 on Friday. The stock’s 50-day moving average price is $36.84 and its 200 day moving average price is $31.10. Summit Midstream Partners has a 12-month low of $13.00 and a 12-month high of $38.05. The firm has a market cap of $396.33 million, a price-to-earnings ratio of 5.31 and a beta of 2.41. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.51.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pekin Hardy Strauss Inc. raised its stake in shares of Summit Midstream Partners by 136.9% in the second quarter. Pekin Hardy Strauss Inc. now owns 34,225 shares of the pipeline company’s stock valued at $1,217,000 after acquiring an additional 19,775 shares in the last quarter. Cetera Advisors LLC increased its holdings in Summit Midstream Partners by 3.5% during the 1st quarter. Cetera Advisors LLC now owns 13,420 shares of the pipeline company’s stock worth $377,000 after purchasing an additional 450 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Summit Midstream Partners in the 2nd quarter valued at about $386,000. Acadian Asset Management LLC boosted its stake in shares of Summit Midstream Partners by 414.9% in the 2nd quarter. Acadian Asset Management LLC now owns 9,798 shares of the pipeline company’s stock valued at $347,000 after buying an additional 7,895 shares during the period. Finally, O Brien Greene & Co. Inc purchased a new stake in shares of Summit Midstream Partners during the second quarter worth approximately $297,000. Institutional investors and hedge funds 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.