Analysts expect Summit Midstream Partners LP (NYSE:SMLP) to post earnings per share (EPS) of $0.24 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Summit Midstream Partners’ earnings. The lowest EPS estimate is $0.13 and the highest is $0.37. Summit Midstream Partners posted earnings of $0.25 per share during the same quarter last year, which suggests a negative year over year growth rate of 4%. The business is expected to issue its next earnings report before the market opens on Tuesday, February 26th.
On average, analysts expect that Summit Midstream Partners will report full year earnings of ($0.20) per share for the current financial year. For the next fiscal year, analysts forecast that the firm will post earnings of $1.05 per share, with EPS estimates ranging from $0.55 to $1.55. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Summit Midstream Partners.
Get Summit Midstream Partners alerts:A number of analysts have issued reports on the company. Zacks Investment Research raised Summit Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Thursday, October 25th. ValuEngine raised Summit Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 23rd. Citigroup set a $17.00 price target on Summit Midstream Partners and gave the stock a “buy” rating in a report on Monday, November 12th. Finally, Credit Suisse Group set a $15.00 price target on Summit Midstream Partners and gave the stock an “outperform” rating in a report on Tuesday, November 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Summit Midstream Partners has an average rating of “Hold” and a consensus price target of $18.10.
Shares of NYSE SMLP opened at $13.10 on Friday. The stock has a market cap of $969.26 million, a price-to-earnings ratio of 7.99 and a beta of 1.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.24. Summit Midstream Partners has a 1 year low of $10.04 and a 1 year high of $20.30.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Thursday, February 7th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 17.56%. The ex-dividend date of this dividend was Wednesday, February 6th. Summit Midstream Partners’s dividend payout ratio (DPR) is currently 140.24%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in shares of Summit Midstream Partners during the fourth quarter worth about $30,000. Gradient Investments LLC acquired a new stake in shares of Summit Midstream Partners during the fourth quarter worth about $44,000. Bank of Montreal Can increased its position in shares of Summit Midstream Partners by 53.9% during the fourth quarter. Bank of Montreal Can now owns 5,273 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 1,847 shares in the last quarter. Tortoise Index Solutions LLC increased its position in Summit Midstream Partners by 102.5% in the 4th quarter. Tortoise Index Solutions LLC now owns 14,414 shares of the pipeline company’s stock valued at $145,000 after acquiring an additional 7,297 shares during the period. Finally, Private Advisor Group LLC acquired a new position in Summit Midstream Partners in the 4th quarter valued at about $153,000. Institutional investors and hedge funds own 42.15% of the company’s stock.
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.
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