Summit Midstream Partners (NYSE:SMLP) Receives New Coverage from Analysts at StockNews.com

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

Summit Midstream Partners Trading Up 3.7 %

Shares of SMLP stock opened at $38.05 on Friday. The company has a market capitalization 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. The firm has a 50-day moving average price of $36.84 and a 200 day moving average price of $31.10. Summit Midstream Partners has a twelve month low of $13.00 and a twelve month high of $38.05.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC lifted its holdings in shares of 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 acquiring an additional 450 shares during the period. Acadian Asset Management LLC grew its holdings in Summit Midstream Partners by 414.9% in the second quarter. Acadian Asset Management LLC now owns 9,798 shares of the pipeline company’s stock valued at $347,000 after purchasing an additional 7,895 shares during the period. O Brien Greene & Co. Inc acquired a new position in Summit Midstream Partners during the second quarter worth approximately $297,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Summit Midstream Partners during the second quarter worth approximately $386,000. Finally, Pekin Hardy Strauss Inc. boosted its holdings in shares of Summit Midstream Partners by 136.9% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 34,225 shares of the pipeline company’s stock valued at $1,217,000 after purchasing an additional 19,775 shares during the last quarter. 42.97% of the stock is currently owned by institutional investors and hedge funds.

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.