Hmi Capital buys $100,353,145 stake in Summit Midstream Partners LP (SMLP)

Summit Midstream Partners LP (SMLP) : Hmi Capital scooped up 80,000 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 Aug 12, 2016. The investment management firm now holds a total of 4,376,500 shares of Summit Midstream Partners LP which is valued at $100,353,145.Summit Midstream Partners LP makes up approximately 17.10% of Hmi Capital’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies boosted its stake in SMLP in the latest quarter, The investment management firm added 52,200 additional shares and now holds a total of 88,900 shares of Summit Midstream Partners LP which is valued at $2,038,477.Evergreen Capital Management reduced its stake in SMLP by selling 1,075 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 598,805 shares of SMLP which is valued at $13,317,423. Summit Midstream Partners LP makes up approx 2.85% of Evergreen Capital Management’s portfolio.Center Coast Capital Advisors Lp reduced its stake in SMLP by selling 228,749 shares or 15.28% in the most recent quarter. The Hedge Fund company now holds 1,268,167 shares of SMLP which is valued at $28,787,391. Summit Midstream Partners LP makes up approx 0.80% of Center Coast Capital Advisors Lp’s portfolio.

Summit Midstream Partners LP opened for trading at $24 and hit $24.74 on the upside on Monday, eventually ending the session at $24.63, with a gain of 1.27% or 0.31 points. The heightened volatility saw the trading volume jump to 83,298 shares. Company has a market cap of $1,640 M.

Many Wall Street Analysts have commented on Summit Midstream Partners LP. Company shares were Upgraded by Robert W. Baird on Aug 12, 2016 to ” Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $24 .Summit Midstream Partners LP was Upgraded by Credit Suisse to ” Outperform” on Aug 8, 2016. Summit Midstream Partners LP was Initiated by Credit Suisse to “Neutral” on May 24, 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.

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