Summit Midstream Partners LP (NYSE:SMLP)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $8.94 and last traded at $9.00, with a volume of 15718 shares. The stock had previously closed at $9.35.

A number of research firms recently commented on SMLP. Zacks Investment Research lowered shares of Summit Midstream Partners from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Wells Fargo & Co reaffirmed a “hold” rating and issued a $16.00 price objective (up previously from $10.00) on shares of Summit Midstream Partners in a research note on Monday, March 4th. Credit Suisse Group lowered shares of Summit Midstream Partners from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $15.00 to $9.00 in a research note on Thursday, March 14th. Finally, Robert W. Baird lowered shares of Summit Midstream Partners from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $10.00 in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Summit Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $15.33.

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $688.81 million, a P/E ratio of 153.17 and a beta of 1.79.

Summit Midstream Partners (NYSE:SMLP) last issued its earnings results on Tuesday, February 26th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.15. The company had revenue of $133.67 million during the quarter, compared to analyst estimates of $109.40 million. Summit Midstream Partners had a net margin of 8.36% and a return on equity of 13.80%. As a group, equities research analysts predict that Summit Midstream Partners LP will post 0.9 earnings per share for the current year.

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of Summit Midstream Partners by 5.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 800,392 shares of the pipeline company’s stock valued at $11,446,000 after buying an additional 44,794 shares during the period. West Family Investments Inc. boosted its stake in shares of Summit Midstream Partners by 36.9% during the 4th quarter. West Family Investments Inc. now owns 185,574 shares of the pipeline company’s stock valued at $1,865,000 after buying an additional 50,000 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Summit Midstream Partners during the 3rd quarter valued at $2,208,000. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Summit Midstream Partners by 105.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 149,233 shares of the pipeline company’s stock valued at $1,500,000 after buying an additional 76,500 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in shares of Summit Midstream Partners by 3.8% during the 4th quarter. Rafferty Asset Management LLC now owns 133,864 shares of the pipeline company’s stock valued at $1,345,000 after buying an additional 4,952 shares during the period. 38.86% of the stock is owned by institutional investors.

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About Summit Midstream Partners (NYSE:SMLP)

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.

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