Stifel Financial Corp reduced its holdings in shares of Summit Midstream Partners LP (NYSE:SMLP) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,315 shares of the pipeline company’s stock after selling 6,100 shares during the period. Stifel Financial Corp’s holdings in Summit Midstream Partners were worth $173,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Private Advisor Group LLC acquired a new stake in shares of Summit Midstream Partners during the 4th quarter valued at about $153,000. Canton Hathaway LLC acquired a new stake in shares of Summit Midstream Partners during the 4th quarter valued at about $30,000. JPMorgan Chase & Co. boosted its position in shares of Summit Midstream Partners by 5.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 800,392 shares of the pipeline company’s stock valued at $11,446,000 after acquiring an additional 44,794 shares in the last quarter. Usca Ria LLC acquired a new position in Summit Midstream Partners in the fourth quarter valued at about $626,000. Finally, Creative Planning boosted its position in Summit Midstream Partners by 82.9% in the fourth quarter. Creative Planning now owns 35,300 shares of the pipeline company’s stock valued at $355,000 after buying an additional 16,000 shares in the last quarter. Institutional investors and hedge funds own 38.86% of the company’s stock.
A number of equities analysts have commented on SMLP shares. Zacks Investment Research upgraded shares of Summit Midstream Partners from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Tuesday, March 19th. Wells Fargo & Co restated a “hold” rating and issued a $16.00 price target (up from $10.00) on shares of Summit Midstream Partners in a research report on Monday, March 4th. Robert W. Baird lowered shares of Summit Midstream Partners from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $10.00 in a research report on Thursday, March 7th. Finally, Credit Suisse Group lowered shares of Summit Midstream Partners from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $15.00 to $9.00 in a research report on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Summit Midstream Partners currently has a consensus rating of “Hold” and an average price target of $15.33.
Summit Midstream Partners (NYSE:SMLP) last announced its earnings results on Tuesday, February 26th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.15. Summit Midstream Partners had a net margin of 8.36% and a return on equity of 13.80%. The company had revenue of $133.67 million for the quarter, compared to analyst estimates of $109.40 million. Research analysts predict that Summit Midstream Partners LP will post 0.79 earnings per share for the current fiscal year.
About Summit Midstream Partners
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, treating, and processing services, as well as crude oil and produced water gathering services.
Further Reading: Commodities
Want to see what other hedge funds are holding SMLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Summit Midstream Partners LP (NYSE:SMLP).
Receive News & Ratings for Summit Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.