Spirit of America Management Corp NY boosted its position in Summit Midstream Partners LP (NYSE:SMLP) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,958 shares of the pipeline company’s stock after buying an additional 7,400 shares during the quarter. Spirit of America Management Corp NY’s holdings in Summit Midstream Partners were worth $7,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Alliancebernstein L.P. boosted its stake 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 worth $227,000 after buying an additional 560 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Summit Midstream Partners by 4.2% during 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. Wells Fargo & Company MN boosted its stake in shares of Summit Midstream Partners by 6.0% during 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. Arrow Investment Advisors LLC boosted its stake in shares of Summit Midstream Partners by 15.2% during the third quarter. Arrow Investment Advisors LLC now owns 34,052 shares of the pipeline company’s stock valued at $681,000 after purchasing an additional 4,504 shares during the period. Finally, CNH Partners LLC boosted its stake in shares of Summit Midstream Partners by 18.8% during the second quarter. CNH Partners LLC now owns 31,028 shares of the pipeline company’s stock valued at $703,000 after purchasing an additional 4,900 shares during the period. 48.77% of the stock is owned by institutional investors and hedge funds.

Shares of Summit Midstream Partners LP (NYSE SMLP) traded down $0.30 during trading on Wednesday, hitting $22.20. The company had a trading volume of 635,000 shares, compared to its average volume of 164,690. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $1,590.00, a P/E ratio of 15.21 and a beta of 1.65. Summit Midstream Partners LP has a one year low of $18.30 and a one year high of $26.50.

Summit Midstream Partners (NYSE:SMLP) last announced its earnings results on Wednesday, November 1st. The pipeline company reported $1.22 EPS for the quarter. Summit Midstream Partners had a return on equity of 11.61% and a net margin of 24.14%. equities analysts predict that Summit Midstream Partners LP will post 1.6 EPS for the current year.

A number of analysts have recently weighed in on the company. Zacks Investment Research raised Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Tuesday, October 10th. ValuEngine upgraded Summit Midstream Partners from a “hold” rating to a “buy” rating in a report on Monday, December 11th. BidaskClub upgraded Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Credit Suisse Group started coverage on Summit Midstream Partners in a report on Thursday, January 4th. They set an “outperform” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $24.50.

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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.

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

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