Summit Midstream Partners (NYSE:SMC) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Summit Midstream Partners (NYSE:SMC - Free Report) from a sell rating to a hold rating in a report published on Friday morning.

Summit Midstream Partners Stock Up 1.1%

Summit Midstream Partners stock traded up $0.29 during mid-day trading on Friday, hitting $26.25. The company's stock had a trading volume of 83,135 shares, compared to its average volume of 89,091. Summit Midstream Partners has a twelve month low of $23.53 and a twelve month high of $45.89. The stock has a market capitalization of $489.56 million, a P/E ratio of -2.01 and a beta of 1.10. The stock's fifty day moving average price is $25.98 and its two-hundred day moving average price is $32.79.

Institutional Investors Weigh In On Summit Midstream Partners

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Summit Midstream Partners by 51.6% during the 1st quarter. Vanguard Group Inc. now owns 687,064 shares of the company's stock worth $23,285,000 after buying an additional 233,760 shares during the last quarter. Millennium Management LLC lifted its position in shares of Summit Midstream Partners by 320.2% in the 1st quarter. Millennium Management LLC now owns 204,265 shares of the company's stock worth $6,923,000 after purchasing an additional 155,655 shares during the period. Eagle Global Advisors LLC lifted its position in shares of Summit Midstream Partners by 154.5% in the 1st quarter. Eagle Global Advisors LLC now owns 188,266 shares of the company's stock worth $6,380,000 after purchasing an additional 114,304 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Midstream Partners during the 4th quarter valued at $3,829,000. Finally, Bridgeway Capital Management LLC bought a new stake in Summit Midstream Partners during the 4th quarter valued at $2,321,000. Institutional investors own 42.97% of the company's stock.

About Summit Midstream Partners

Summit Midstream Corporation focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. It operates natural gas, crude oil, and produced water gathering systems in four unconventional resource basins, including the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin that consists of the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which comprises the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the Mesaverde formation, as well as the emerging Mancos and Niobrara Shale formations.