Evergreen Capital Management buys $12,549,490 stake in Summit Midstream Partners LP (SMLP)

Summit Midstream Partners LP (SMLP) : Evergreen Capital Management scooped up 430,330 additional shares in Summit Midstream Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 599,880 shares of Summit Midstream Partners LP which is valued at $12,549,490.Summit Midstream Partners LP makes up approximately 2.78% of Evergreen Capital Management’s portfolio.

Summit Midstream Partners LP opened for trading at $19.68 and hit $21.06 on the upside on Friday, eventually ending the session at $20.92, with a gain of 4.08% or 0.82 points. The heightened volatility saw the trading volume jump to 3,20,371 shares. Company has a market cap of $1,391 M.

Other Hedge Funds, Including , Spectrum Management Group boosted its stake in SMLP in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 940 shares of Summit Midstream Partners LP which is valued at $19,900. Summit Midstream Partners LP makes up approx 0.01% of Spectrum Management Group’s portfolio. Quantbot Technologies Lp added SMLP to its portfolio by purchasing 600 company shares during the most recent quarter which is valued at $12,702. Penbrook Management added SMLP to its portfolio by purchasing 29,800 company shares during the most recent quarter which is valued at $599,278. Summit Midstream Partners LP makes up approx 0.65% of Penbrook Management’s portfolio.

Many Wall Street Analysts have commented on Summit Midstream Partners LP. Summit Midstream Partners LP was Downgraded by Goldman to ” Neutral” on Mar 11, 2016. Summit Midstream Partners LP was Downgraded by Citigroup to ” Neutral” on Mar 10, 2016. Shares were Reiterated by Wunderlich on Feb 29, 2016 to “Buy” and Lowered the Price Target to $ 14 from a previous price target of $21 .

Summit Midstream Partners LP is a limited partnership focused on developing owning and operating midstream energy infrastructure assets. The Company’s assets are located in the producing areas of unconventional resource basins primarily shale formations in North America. It provides natural gas gathering treating and processing services pursuant to long-term and natural gas gathering and processing agreements with its customers and counterparties. The Company conducts its operations in the midstream sector through four segments: the Marcellus Shale which is served by Mountaineer Midstream; the Williston Basin which is served by Bison Midstream; the Barnett Shale which is served by DFW Midstream and the Piceance Basin which is served by Grand River. It operates in four unconventional resource basins: the Appalachian Basin; the Williston Basin; the Fort Worth Basin and the Piceance Basin.

Leave a Reply

Summit Midstream Partners LP - Is it time to Sell?

Top Brokerage Firms are advising their investors on Summit Midstream Partners LP. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.