Summit Midstream Partners LP (NYSE:SMLP) – Stock analysts at Capital One Financial lifted their Q2 2019 earnings per share (EPS) estimates for shares of Summit Midstream Partners in a research report issued to clients and investors on Monday, July 8th, according to Zacks Investment Research. Capital One Financial analyst K. May now expects that the pipeline company will post earnings of $0.11 per share for the quarter, up from their previous forecast of $0.10. Capital One Financial also issued estimates for Summit Midstream Partners’ Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.16 EPS, Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.12 EPS, Q3 2020 earnings at $0.12 EPS, Q4 2020 earnings at $0.11 EPS, FY2020 earnings at $0.49 EPS and FY2021 earnings at $0.57 EPS.
Several other equities analysts also recently commented on the company. Citigroup downgraded Summit Midstream Partners from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $6.50 in a research report on Wednesday, June 19th. Barclays reaffirmed a “sell” rating and issued a $6.00 target price on shares of Summit Midstream Partners in a research report on Thursday, July 18th. Royal Bank of Canada downgraded Summit Midstream Partners from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $17.00 to $10.00 in a research report on Monday, April 29th. Zacks Investment Research downgraded Summit Midstream Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, TheStreet downgraded Summit Midstream Partners from a “c-” rating to a “d+” rating in a research report on Friday, May 17th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Summit Midstream Partners has an average rating of “Hold” and a consensus target price of $11.72.
NYSE SMLP traded down $0.02 during trading on Tuesday, reaching $7.86. 166,107 shares of the company’s stock were exchanged, compared to its average volume of 432,604. The firm’s 50 day simple moving average is $7.29. The firm has a market capitalization of $650.77 million, a PE ratio of 131.00 and a beta of 1.58. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.46. Summit Midstream Partners has a fifty-two week low of $6.45 and a fifty-two week high of $17.73.
Summit Midstream Partners (NYSE:SMLP) last released its earnings results on Thursday, May 9th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.16). The company had revenue of $131.41 million for the quarter, compared to the consensus estimate of $104.77 million. Summit Midstream Partners had a return on equity of 13.50% and a net margin of 1.78%.
Large investors have recently modified their holdings of the stock. Private Advisor Group LLC acquired a new stake in Summit Midstream Partners during the fourth quarter worth approximately $153,000. Bank of Montreal Can grew its position in Summit Midstream Partners by 3,503.5% during the first quarter. Bank of Montreal Can now owns 190,013 shares of the pipeline company’s stock worth $1,849,000 after buying an additional 184,740 shares in the last quarter. Creative Planning grew its position in Summit Midstream Partners by 116.1% during the first quarter. Creative Planning now owns 76,300 shares of the pipeline company’s stock worth $742,000 after buying an additional 41,000 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in Summit Midstream Partners by 20.1% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 179,233 shares of the pipeline company’s stock worth $1,744,000 after buying an additional 30,000 shares in the last quarter. Finally, Tortoise Index Solutions LLC grew its position in Summit Midstream Partners by 102.5% during the fourth quarter. Tortoise Index Solutions LLC now owns 14,414 shares of the pipeline company’s stock worth $145,000 after buying an additional 7,297 shares in the last quarter. 33.35% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be given a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a yield of 14.61%. The ex-dividend date of this dividend is Tuesday, August 6th. Summit Midstream Partners’s dividend payout ratio is currently 1,916.67%.
Summit Midstream Partners Company Profile
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.