Summit Midstream Partners (NYSE:SMLP) Announces Quarterly Earnings Results

Summit Midstream Partners (NYSE:SMLP) released its quarterly earnings data on Friday. The pipeline company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.37), MarketWatch Earnings reports. Summit Midstream Partners had a net margin of 13.00% and a return on equity of 12.35%. The company had revenue of $100.19 million during the quarter, compared to analyst estimates of $115.74 million.

Shares of NYSE:SMLP traded down $0.23 on Friday, reaching $4.42. The company’s stock had a trading volume of 717,602 shares, compared to its average volume of 390,529. The stock’s 50-day moving average is $4.85 and its two-hundred day moving average is $6.39. Summit Midstream Partners has a 52-week low of $4.05 and a 52-week high of $15.23. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $373.80 million, a P/E ratio of 73.67 and a beta of 1.66.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a $0.287 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 25.97%. Summit Midstream Partners’s payout ratio is 1,916.67%.

Several equities analysts have issued reports on SMLP shares. Zacks Investment Research upgraded shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday. Credit Suisse Group set a $5.00 price objective on shares of Summit Midstream Partners and gave the company a “sell” rating in a research note on Friday, August 16th. Wells Fargo & Co set a $6.00 price objective on shares of Summit Midstream Partners and gave the company a “hold” rating in a research note on Monday, August 12th. SunTrust Banks decreased their price objective on shares of Summit Midstream Partners from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, October 15th. Finally, ValuEngine upgraded shares of Summit Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.69.

Summit Midstream Partners Company Profile

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.

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Earnings History for Summit Midstream Partners (NYSE:SMLP)

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