Castleton Investment Management LLC decreased its holdings in Summit Midstream Partners LP (NYSE:SMLP) by 26.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,000 shares of the pipeline company’s stock after selling 25,000 shares during the quarter. Castleton Investment Management LLC owned approximately 0.09% of Summit Midstream Partners worth $1,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HMI Capital LLC increased its stake in shares of Summit Midstream Partners by 0.8% in the 3rd quarter. HMI Capital LLC now owns 5,154,264 shares of the pipeline company’s stock valued at $103,085,000 after buying an additional 39,955 shares during the period. Harvest Fund Advisors LLC increased its stake in shares of Summit Midstream Partners by 14.9% in the 3rd quarter. Harvest Fund Advisors LLC now owns 3,365,477 shares of the pipeline company’s stock valued at $67,310,000 after buying an additional 437,548 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of Summit Midstream Partners by 0.6% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,157,570 shares of the pipeline company’s stock valued at $63,148,000 after buying an additional 19,570 shares during the period. Center Coast Capital Advisors LP increased its stake in shares of Summit Midstream Partners by 3.7% in the 3rd quarter. Center Coast Capital Advisors LP now owns 1,445,112 shares of the pipeline company’s stock valued at $28,902,000 after buying an additional 51,396 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Summit Midstream Partners by 3.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,068,307 shares of the pipeline company’s stock valued at $24,197,000 after buying an additional 36,213 shares during the period. 48.77% of the stock is owned by institutional investors.

Shares of Summit Midstream Partners LP (SMLP) traded down $0.05 during trading on Wednesday, hitting $19.50. The company had a trading volume of 66,000 shares, compared to its average volume of 185,790. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. Summit Midstream Partners LP has a twelve month low of $18.30 and a twelve month high of $26.50. The firm has a market capitalization of $1,457.45, a PE ratio of 11.78 and a beta of 1.66.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were paid a dividend of $0.575 per share. The ex-dividend date was Monday, November 6th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 11.79%. Summit Midstream Partners’s dividend payout ratio (DPR) is presently 157.53%.

Several equities research analysts have recently commented on SMLP shares. Zacks Investment Research raised Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, October 10th. ValuEngine raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. BidaskClub raised Summit Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Robert W. Baird decreased their price objective on Summit Midstream Partners from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $25.50.

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Summit Midstream Partners Profile

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.

Institutional Ownership by Quarter for Summit Midstream Partners (NYSE:SMLP)

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