Summit Midstream Partners, LP (SMLP) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its holdings in shares of Summit Midstream Partners, LP (NYSE:SMLP) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,004 shares of the pipeline company’s stock after purchasing an additional 560 shares during the quarter. Alliancebernstein L.P.’s holdings in Summit Midstream Partners, were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Solaris Asset Management LLC increased its position in Summit Midstream Partners, by 32.7% during the second quarter. Solaris Asset Management LLC now owns 5,275 shares of the pipeline company’s stock valued at $119,000 after acquiring an additional 1,300 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Summit Midstream Partners, in the second quarter worth about $242,000. Global X Management Co. LLC increased its position in Summit Midstream Partners, by 11.1% in the second quarter. Global X Management Co. LLC now owns 15,157 shares of the pipeline company’s stock worth $343,000 after buying an additional 1,514 shares in the last quarter. Twin Focus Capital Partners LLC purchased a new stake in Summit Midstream Partners, in the second quarter worth about $453,000. Finally, Neuberger Berman Group LLC grew its position in shares of Summit Midstream Partners, by 4.2% during the second quarter. Neuberger Berman Group LLC now owns 24,739 shares of the pipeline company’s stock worth $560,000 after purchasing an additional 989 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

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Several analysts recently issued reports on SMLP shares. Zacks Investment Research cut Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Barclays PLC cut Summit Midstream Partners, from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Tuesday, July 18th. Citigroup Inc. reiterated a “neutral” rating and set a $24.00 target price (up previously from $22.00) on shares of Summit Midstream Partners, in a research report on Monday, July 24th. BidaskClub cut Summit Midstream Partners, from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, Robert W. Baird cut their target price on Summit Midstream Partners, from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Summit Midstream Partners, has a consensus rating of “Hold” and a consensus price target of $25.67.

Summit Midstream Partners, LP (SMLP) opened at $20.05 on Monday. The company has a market capitalization of $1,494.73, a P/E ratio of 12.08, a P/E/G ratio of 13.92 and a beta of 1.70. Summit Midstream Partners, LP has a one year low of $19.15 and a one year high of $26.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 11.47%. The ex-dividend date of this dividend is Monday, November 6th. Summit Midstream Partners,’s payout ratio is 157.53%.

Summit Midstream Partners, Profile

Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.

Institutional Ownership by Quarter for Summit Midstream Partners, (NYSE:SMLP)

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