Summit Midstream Partners LP (NYSE:SMLP) – Equities research analysts at US Capital Advisors cut their Q1 2019 earnings per share (EPS) estimates for Summit Midstream Partners in a research report issued to clients and investors on Monday, March 18th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $0.29 for the quarter, down from their previous estimate of $0.34. US Capital Advisors also issued estimates for Summit Midstream Partners’ Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.38 EPS, FY2019 earnings at $1.37 EPS and FY2020 earnings at $1.05 EPS.
Several other equities analysts have also recently issued reports on SMLP. Credit Suisse Group set a $15.00 price objective on Summit Midstream Partners and gave the stock an “outperform” rating in a report on Tuesday, November 20th. Wells Fargo & Co reaffirmed a “hold” rating and set a $16.00 price target (up previously from $10.00) on shares of Summit Midstream Partners in a research note on Monday, March 4th. Robert W. Baird downgraded Summit Midstream Partners from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $10.00 in a research note on Thursday, March 7th. Finally, Zacks Investment Research downgraded Summit Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.40.
Shares of SMLP stock opened at $9.85 on Wednesday. The firm has a market cap of $729.28 million, a P/E ratio of 164.17 and a beta of 1.81. Summit Midstream Partners has a 1 year low of $9.28 and a 1 year high of $17.73. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.36.
Summit Midstream Partners (NYSE:SMLP) last posted its quarterly earnings results on Tuesday, February 26th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.18. Summit Midstream Partners had a net margin of 8.36% and a return on equity of 13.80%.
Institutional investors have recently modified their holdings of the stock. Canton Hathaway LLC acquired a new position in shares of Summit Midstream Partners during the 4th quarter worth approximately $30,000. Gradient Investments LLC acquired a new position in shares of Summit Midstream Partners in the fourth quarter worth $44,000. Bank of Montreal Can raised its holdings in shares of Summit Midstream Partners by 53.9% in the fourth quarter. Bank of Montreal Can now owns 5,273 shares of the pipeline company’s stock worth $53,000 after acquiring an additional 1,847 shares during the last quarter. Tortoise Index Solutions LLC raised its holdings in shares of Summit Midstream Partners by 102.5% in the fourth quarter. Tortoise Index Solutions LLC now owns 14,414 shares of the pipeline company’s stock worth $145,000 after acquiring an additional 7,297 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC acquired a new position in shares of Summit Midstream Partners in the fourth quarter worth $179,000. Hedge funds and other institutional investors own 38.88% 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, treating, and processing services, as well as crude oil and produced water gathering services.
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