Summit Midstream Partners LP (NYSE:SMLP) – Analysts at Capital One Financial reduced their FY2019 EPS estimates for Summit Midstream Partners in a research note issued to investors on Monday, December 30th, Zacks Investment Research reports. Capital One Financial analyst K. May now anticipates that the pipeline company will post earnings of ($0.07) per share for the year, down from their prior forecast of $0.12. Capital One Financial also issued estimates for Summit Midstream Partners’ Q4 2019 earnings at ($0.04) EPS, Q1 2020 earnings at ($0.08) EPS, Q2 2020 earnings at ($0.08) EPS, Q3 2020 earnings at ($0.06) EPS, Q4 2020 earnings at ($0.06) EPS, FY2020 earnings at ($0.28) EPS and FY2021 earnings at ($0.19) EPS.
Summit Midstream Partners (NYSE:SMLP) last posted its earnings results on Friday, November 8th. The pipeline company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.37). Summit Midstream Partners had a positive return on equity of 6.81% and a negative net margin of 0.88%. The firm had revenue of $100.19 million for the quarter, compared to analysts’ expectations of $115.74 million.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. ValuEngine upgraded Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Co downgraded Summit Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $3.50 target price on the stock. in a report on Tuesday. SunTrust Banks reduced their target price on Summit Midstream Partners from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, October 15th. Finally, Barclays reiterated a “sell” rating and set a $3.00 target price on shares of Summit Midstream Partners in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Summit Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $6.25.
SMLP stock opened at $3.42 on Wednesday. Summit Midstream Partners has a fifty-two week low of $2.81 and a fifty-two week high of $14.45. The business’s 50 day moving average price is $3.27 and its two-hundred day moving average price is $5.06. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market capitalization of $271.42 million, a price-to-earnings ratio of 57.00 and a beta of 1.54.
Several institutional investors have recently bought and sold shares of the stock. Full Sail Capital LLC purchased a new stake in shares of Summit Midstream Partners in the 3rd quarter worth approximately $39,000. Virtu Financial LLC bought a new position in Summit Midstream Partners in the 3rd quarter valued at approximately $96,000. Arrow Investment Advisors LLC lifted its position in Summit Midstream Partners by 46.9% in the 3rd quarter. Arrow Investment Advisors LLC now owns 61,267 shares of the pipeline company’s stock valued at $298,000 after acquiring an additional 19,565 shares in the last quarter. Creative Planning lifted its position in Summit Midstream Partners by 88.9% in the 3rd quarter. Creative Planning now owns 180,000 shares of the pipeline company’s stock valued at $875,000 after acquiring an additional 84,700 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Summit Midstream Partners by 6.8% in the 3rd quarter. California Public Employees Retirement System now owns 162,626 shares of the pipeline company’s stock valued at $790,000 after acquiring an additional 10,381 shares in the last quarter. Institutional investors own 29.55% 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.