Summit Midstream Partners (SMLP) Getting Somewhat Negative News Coverage, Report Shows

News coverage about Summit Midstream Partners (NYSE:SMLP) has been trending somewhat negative this week, Accern reports. Accern identifies positive and negative news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Summit Midstream Partners earned a coverage optimism score of -0.03 on Accern’s scale. Accern also assigned news coverage about the pipeline company an impact score of 47.2013706542046 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

Here are some of the media stories that may have effected Accern Sentiment’s rankings:

Get Summit Midstream Partners alerts: Brad N. Graves Sells 5,000 Shares of Summit Midstream Partners (SMLP) Stock (americanbankingnews.com) US Capital Advisors Analysts Lift Earnings Estimates for Summit Midstream Partners (SMLP) (americanbankingnews.com) Summit Midstream Partners LP (SMLP): Shares Climb 4.56% (parkcitycaller.com) Summit Midstream Partners to Post FY2019 Earnings of $1.64 Per Share, US Capital Advisors Forecasts (SMLP) (americanbankingnews.com)

NYSE:SMLP opened at $15.75 on Friday. Summit Midstream Partners has a one year low of $13.10 and a one year high of $24.75. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $1.18 billion, a P/E ratio of 9.60 and a beta of 1.76.

Summit Midstream Partners (NYSE:SMLP) last posted its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Summit Midstream Partners had a return on equity of 13.23% and a net margin of 17.59%. The firm had revenue of $126.20 million during the quarter. equities research analysts anticipate that Summit Midstream Partners will post 0.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 8th were issued a $0.575 dividend. The ex-dividend date was Monday, May 7th. This represents a $2.30 annualized dividend and a dividend yield of 14.60%. Summit Midstream Partners’s dividend payout ratio is presently 140.24%.

SMLP has been the topic of a number of recent analyst reports. Robert W. Baird set a $22.00 price target on Summit Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, March 8th. Citigroup upgraded Summit Midstream Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 27th. Royal Bank of Canada reiterated a “buy” rating and set a $20.00 price target on shares of Summit Midstream Partners in a research report on Tuesday, March 6th. SunTrust Banks lowered their price target on Summit Midstream Partners to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, March 6th. Finally, Zacks Investment Research downgraded Summit Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Summit Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $19.00.

In related news, insider Steven J. Newby purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was purchased at an average price of $15.88 per share, with a total value of $238,200.00. Following the completion of the acquisition, the insider now owns 38,812 shares in the company, valued at $616,334.56. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brad N. Graves sold 5,000 shares of the stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $15.37, for a total value of $76,850.00. Following the completion of the sale, the insider now directly owns 66,225 shares of the company’s stock, valued at approximately $1,017,878.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,000 shares of company stock valued at $169,050.

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.