Hmi Capital buys $92.6 Million stake in Summit Midstream Partners LP (SMLP)

Summit Midstream Partners LP (SMLP) : Hmi Capital scooped up 450,000 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 13, 2016. The investment management firm now holds a total of 4,296,500 shares of Summit Midstream Partners LP which is valued at $92.6 Million.Summit Midstream Partners LP makes up approximately 19.40% of Hmi Capital’s portfolio.

Other Hedge Funds, Including , Van Eck Associates Corp added SMLP to its portfolio by purchasing 62,981 company shares during the most recent quarter which is valued at $1.4 Million. Summit Midstream Partners LP makes up approx 0.01% of Van Eck Associates Corp’s portfolio.Oppenheimerfunds boosted its stake in SMLP in the latest quarter, The investment management firm added 806,280 additional shares and now holds a total of 4,333,022 shares of Summit Midstream Partners LP which is valued at $93.4 Million. Summit Midstream Partners LP makes up approx 0.12% of Oppenheimerfunds’s portfolio.Mosaic Family Wealth boosted its stake in SMLP in the latest quarter, The investment management firm added 12 additional shares and now holds a total of 3,046 shares of Summit Midstream Partners LP which is valued at $65,641. Summit Midstream Partners LP makes up approx 0.03% of Mosaic Family Wealth’s portfolio.Penserra Capital Management reduced its stake in SMLP by selling 58,354 shares or 99.52% in the most recent quarter. The Hedge Fund company now holds 284 shares of SMLP which is valued at $6,120.

Summit Midstream Partners LP closed down -0.74 points or -3.25% at $22.06 with 3,49,314 shares getting traded on Wednesday. Post opening the session at $22.99, the shares hit an intraday low of $22.01 and an intraday high of $23.55 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Many Wall Street Analysts have commented on Summit Midstream Partners LP. Summit Midstream Partners LP was Initiated by Credit Suisse to “Neutral” on May 24, 2016. Company shares were Reiterated by Wunderlich on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Summit Midstream Partners LP was Downgraded by Goldman to ” Neutral” on Mar 11, 2016.

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.