Barclays Maintains Summit Midstream Partners LP to Equal-weight with Price Target $25.00

Brokerage firm Barclays Maintains its rating on Summit Midstream Partners LP(NYSE:SMLP). In a research note issued to the investors, the brokerage major Raises the price-target to $25.00 per share. The shares have been rated Equal-weight. The rating by Barclays was issued on Aug 18, 2016.

In a different note, On Aug 12, 2016, Baird said it Upgrades its rating on Summit Midstream Partners LP. The shares have been rated ‘Outperform’ by the firm. On Aug 8, 2016, Credit Suisse said it Upgrades its rating on Summit Midstream Partners LP. In the research note, the firm Raises the price-target to $27.00 per share. The shares have been rated ‘Outperform’ by the firm. Credit Suisse said it Initiates Coverage on Summit Midstream Partners LP, according to a research note issued on May 24, 2016. The shares have been rated ‘Neutral’ by the firm.

Summit Midstream Partners LP (SMLP) made into the market gainers list on Mondays trading session with the shares advancing 1.27% or 0.31 points. Due to strong positive momentum, the stock ended at $24.63, which is also near the day’s high of $24.74. The stock began the session at $24 and the volume stood at 83,298 shares. The 52-week high of the shares is $24.64 and the 52 week low is $11.0602. The company has a current market capitalization of $1,640 M and it has 6,65,88,168 shares in outstanding.

Summit Midstream Partners LP(SMLP) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $90.57M. Analysts had an estimated revenue of $93.19M. Earnings per share were $-0.01. Analysts had estimated an EPS of $0.22.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, Brad N Graves (officer ) sold 3,100 shares at $23.00 per share price.Also, On Apr 27, 2016, Brock M Degeyter (officer ) sold 6,250 shares at $20.06 per share price.On Jul 30, 2015, Steven J Newby (director officer ) sold 1,553 shares at $30.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Summit Midstream Partners LP is a limited partnership focused on developing owning and operating midstream energy infrastructure assets. The Company’s assets are located in the producing areas of unconventional resource basins primarily shale formations in North America. It provides natural gas gathering treating and processing services pursuant to long-term and natural gas gathering and processing agreements with its customers and counterparties. The Company conducts its operations in the midstream sector through four segments: the Marcellus Shale which is served by Mountaineer Midstream; the Williston Basin which is served by Bison Midstream; the Barnett Shale which is served by DFW Midstream and the Piceance Basin which is served by Grand River. It operates in four unconventional resource basins: the Appalachian Basin; the Williston Basin; the Fort Worth Basin and the Piceance Basin.

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