Summit Midstream Partners LP (SMLP) was Upgraded by Robert W. Baird to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 33 from a previous price target of $24 . Earlier the firm had a rating of “Neutral ” on the company shares. Robert W. Baird advised their investors in a research report released on Aug 12, 2016.
Many Wall Street Analysts have commented on Summit Midstream Partners LP. 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 opened for trading at $23.04 and hit $24.32 on the upside on Monday, eventually ending the session at $23.34, with a gain of 3.50% or 0.79 points. The heightened volatility saw the trading volume jump to 3,01,227 shares. Company has a market cap of $1,554 M.
In a different news, on May 25, 2016, Brad N Graves (officer ) sold 3,100 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.