Summit Midstream Partners LP (SMLP) was Initiated by Credit Suisse to “Neutral”. Credit Suisse advised their investors in a research report released on May 24, 2016.
Many Wall Street Analysts have commented on Summit Midstream Partners LP. 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 was Downgraded by Citigroup to ” Neutral” on Mar 10, 2016.
Summit Midstream Partners LP opened for trading at $22.47 and hit $23.03 on the upside on Friday, eventually ending the session at $22.5, with a gain of 0.67% or 0.15 points. The heightened volatility saw the trading volume jump to 1,37,477 shares. Company has a market cap of $1,498 M.
In a different news, on May 23, 2016, Brad N Graves (officer ) sold 800 shares at $23.00 per share price. According to the SEC, on Apr 27, 2016, Brock M Degeyter (officer ) sold 6,250 shares at $20.06 per share price. On Jul 30, 2015, Steven J Newby (director officer ) sold 1,553 shares at $30.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Summit Midstream Partners LP is a limited partnership focused on developing owning and operating midstream energy infrastructure assets. The Companys 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.