Summit Midstream Partners, LP (NYSE:SMLP - Get Free Report) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 42,200 shares, a decrease of 35.5% from the March 31st total of 65,400 shares. Based on an average daily volume of 52,300 shares, the short-interest ratio is currently 0.8 days. Currently, 0.5% of the shares of the stock are short sold.
Insiders Place Their Bets
In other Summit Midstream Partners news, insider James David Johnston sold 3,400 shares of the company's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $25.21, for a total transaction of $85,714.00. Following the completion of the sale, the insider now directly owns 48,201 shares in the company, valued at $1,215,147.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,000 shares of company stock worth $179,459 over the last three months. Insiders own 3.70% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of SMLP. Tower Research Capital LLC TRC bought a new position in shares of Summit Midstream Partners in the 4th quarter valued at $48,000. Valeo Financial Advisors LLC bought a new position in Summit Midstream Partners during the 3rd quarter worth $209,000. Finally, Pekin Hardy Strauss Inc. bought a new position in Summit Midstream Partners during the 4th quarter worth $232,000. 42.97% of the stock is currently owned by institutional investors.
Summit Midstream Partners Price Performance
Shares of SMLP traded up $0.97 during trading hours on Friday, reaching $28.99. The stock had a trading volume of 27,558 shares, compared to its average volume of 34,997. Summit Midstream Partners has a 12 month low of $13.00 and a 12 month high of $29.54. The stock has a market capitalization of $302.08 million, a PE ratio of -4.74 and a beta of 2.33. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.73 and a current ratio of 0.73. The company's 50-day moving average is $23.87 and its two-hundred day moving average is $20.06.
Summit Midstream Partners (NYSE:SMLP - Get Free Report) last announced its quarterly earnings results on Friday, March 15th. The pipeline company reported ($1.29) EPS for the quarter. Summit Midstream Partners had a negative net margin of 8.49% and a negative return on equity of 4.72%. The firm had revenue of $127.32 million during the quarter.
About Summit Midstream Partners
(
Get Free Report)
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, compression, treating, and processing services, as well as crude oil and produced water gathering and freshwater delivery services.
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