Summit Midstream Partners, LP $SMC Shares Sold by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors trimmed its position in Summit Midstream Partners by 22.8% in Q4, selling 60,364 shares and now holds 203,822 shares (about 1.08%) valued at roughly $5.44 million.
• Summit reported a quarterly loss of ($0.66) per share versus analysts' estimate of $0.30 and revenue of $142.29 million versus $150.07 million expected, and analysts forecast a full‑year EPS of -1.09.
• SMC trades near $28.89 with a market cap of about $548 million and a 52‑week range of $19.13–$33.50; the consensus analyst rating is "Hold" (price target $47) while Weiss Ratings maintains a "sell (d-)" view.

Eagle Global Advisors LLC trimmed its position in shares of Summit Midstream Partners, LP (NYSE:SMC - Free Report) by 22.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,822 shares of the company's stock after selling 60,364 shares during the period. Eagle Global Advisors LLC owned 1.08% of Summit Midstream Partners worth $5,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund bought a new stake in shares of Summit Midstream Partners during the 2nd quarter worth about $96,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Summit Midstream Partners by 5,417.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,517 shares of the company's stock worth $135,000 after buying an additional 5,417 shares in the last quarter. American Century Companies Inc. raised its position in shares of Summit Midstream Partners by 26.2% during the 2nd quarter. American Century Companies Inc. now owns 21,253 shares of the company's stock worth $521,000 after buying an additional 4,417 shares in the last quarter. Jane Street Group LLC raised its position in shares of Summit Midstream Partners by 243.0% during the 1st quarter. Jane Street Group LLC now owns 34,862 shares of the company's stock worth $1,181,000 after buying an additional 24,699 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Summit Midstream Partners by 5.4% during the 1st quarter. Empowered Funds LLC now owns 59,481 shares of the company's stock worth $2,016,000 after buying an additional 3,041 shares in the last quarter. 42.97% of the stock is owned by institutional investors and hedge funds.

Summit Midstream Partners Trading Down 0.1%

SMC stock opened at $28.89 on Wednesday. Summit Midstream Partners, LP has a 52 week low of $19.13 and a 52 week high of $33.50. The company has a market capitalization of $548.12 million, a price-to-earnings ratio of -7.94 and a beta of 0.85. The firm's 50-day moving average is $30.10 and its two-hundred day moving average is $26.82.

Summit Midstream Partners (NYSE:SMC - Get Free Report) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.66) EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.96). The business had revenue of $142.29 million for the quarter, compared to the consensus estimate of $150.07 million. On average, equities research analysts predict that Summit Midstream Partners, LP will post -1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Summit Midstream Partners in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Summit Midstream Partners currently has a consensus rating of "Hold" and a consensus price target of $47.00.

Summit Midstream Partners Company Profile

Summit Midstream Partners is a publicly traded master limited partnership that provides gathering, compression, processing and transportation services for natural gas, natural gas liquids (NGLs) and crude oil in key U.S. onshore basins. The company's assets include a network of intrastate and interstate pipelines, processing plants, fractionators and storage facilities designed to serve producers, marketers and end users throughout the Appalachian, Gulf Coast, Mid-Continent and Western Canadian Sedimentary basins.

In the Appalachian region, Summit operates extensive gathering lines and multiple gas-processing complexes connected to the Mountaineer NGL Hub, one of the largest fractionation and storage hubs in the Mid-Atlantic.

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