Summit Midstream Partners' (SMC) "Sell (D)" Rating Reiterated at Weiss Ratings

Key Points

• Summit Midstream Partners has had its "sell (d)" rating reiterated by Weiss Ratings, maintaining a consensus rating of "Sell" from analysts.
• In contrast, Wall Street Zen has upgraded the stock from a "sell" to a "hold" rating, indicating a divergence in analyst opinions.
• Summit Midstream's stock has recently traded up by 1.8%, reaching $21.90, with a market capitalization of approximately $411 million.

Summit Midstream Partners (NYSE:SMC - Get Free Report)'s stock had its "sell (d)" rating reissued by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Summit Midstream Partners from a "sell" rating to a "hold" rating in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Sell".

Summit Midstream Partners Trading Up 1.8%

NYSE SMC traded up $0.39 on Wednesday, reaching $21.90. The stock had a trading volume of 37,459 shares, compared to its average volume of 73,540. Summit Midstream Partners has a 1 year low of $19.13 and a 1 year high of $45.89. The business has a 50 day moving average price of $22.23 and a 200 day moving average price of $25.62. The company has a market capitalization of $411.06 million, a price-to-earnings ratio of -1.67 and a beta of 1.11.

Summit Midstream Partners (NYSE:SMC - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.66) earnings per share for the quarter. The business had revenue of $140.22 million during the quarter.

Institutional Trading of Summit Midstream Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. bought a new position in shares of Summit Midstream Partners during the 1st quarter worth about $1,160,000. Vanguard Group Inc. increased 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 purchasing an additional 233,760 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in Summit Midstream Partners in the 1st quarter valued at approximately $1,193,000. Invesco Ltd. grew its stake in Summit Midstream Partners by 0.4% in the 1st quarter. Invesco Ltd. now owns 957,026 shares of the company's stock valued at $32,434,000 after buying an additional 3,674 shares in the last quarter. Finally, Eagle Global Advisors LLC grew its position in shares of Summit Midstream Partners by 154.5% during the 1st quarter. Eagle Global Advisors LLC now owns 188,266 shares of the company's stock valued at $6,380,000 after purchasing an additional 114,304 shares in the last quarter. 42.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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