Zacks Investment Research upgraded shares of Summit Midstream Partners, LP (NYSE:SMLP) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $24.00 price objective on the pipeline company’s stock.

According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “

Several other research analysts have also commented on SMLP. BidaskClub upgraded Summit Midstream Partners, from a strong sell rating to a sell rating in a research report on Thursday, June 22nd. Barclays PLC lowered Summit Midstream Partners, from an equal weight rating to an underweight rating and lowered their price target for the stock from $25.00 to $24.00 in a research report on Tuesday, July 18th. Citigroup Inc. restated a neutral rating and set a $24.00 price target (up from $22.00) on shares of Summit Midstream Partners, in a research report on Monday, July 24th. Finally, Robert W. Baird lowered their price target on Summit Midstream Partners, from $28.00 to $27.00 and set an outperform rating for the company in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $25.83.

Summit Midstream Partners, (NYSE:SMLP) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.14. Summit Midstream Partners, had a return on equity of 3.55% and a net margin of 5.78%. The business had revenue of $101.79 million during the quarter, compared to analyst estimates of $99.40 million.

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A number of large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its holdings in Summit Midstream Partners, by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,004 shares of the pipeline company’s stock valued at $227,000 after purchasing an additional 560 shares during the period. Neuberger Berman Group LLC boosted its holdings in Summit Midstream Partners, by 4.2% in the second quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock valued at $560,000 after purchasing an additional 989 shares during the period. Solaris Asset Management LLC boosted its holdings in Summit Midstream Partners, by 32.7% in the second quarter. Solaris Asset Management LLC now owns 5,275 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 1,300 shares during the period. Global X Management Co. LLC boosted its holdings in Summit Midstream Partners, by 11.1% in the second quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock valued at $343,000 after purchasing an additional 1,514 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Summit Midstream Partners, by 6.0% in the second quarter. Wells Fargo & Company MN now owns 51,647 shares of the pipeline company’s stock valued at $1,170,000 after purchasing an additional 2,938 shares during the period. Hedge funds and other institutional investors own 49.82% of the company’s stock.

About Summit Midstream Partners,

Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.

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Analyst Recommendations for Summit Midstream Partners, (NYSE:SMLP)

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