Summit Midstream Partners LP [NYSE: SMLP] gained 12.82% on the last trading session, reaching $0.88 price per share at the time. The company report on November 6, 2020 that Summit Midstream Partners, LP Reports Third Quarter 2020 Financial and Operating Results.
– Third quarter 2020 net income of $25.6 million, primarily attributable to a $24.7 million gain on early extinguishment of debt, adjusted EBITDA of $59.8 million and Distributable Cash Flow (“DCF”) of $37.6 million.
– Third quarter 2020 natural gas throughput for operated systems averaged 1,392 MMcf/d and liquids volume throughput averaged 69 Mbbl/d.
Summit Midstream Partners LP represents 44.65 million in outstanding shares, while the company has a total market value of $51.66 million with the latest information. SMLP stock price has been found in the range of $0.80 to $1.01.
If compared to the average trading volume of 737.48K shares, SMLP reached a trading volume of 16882223 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Summit Midstream Partners LP [SMLP]:
Wells Fargo have made an estimate for Summit Midstream Partners LP shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 07, 2020. While these analysts kept the previous recommendation, Citigroup raised their target price from $13 to $6.50. The new note on the price target was released on June 19, 2019, representing the official price target for Summit Midstream Partners LP stock. Previously, the target price had yet another drop from $17 to $10, while RBC Capital Mkts kept a Sector Perform rating on SMLP stock. On March 14, 2019, analysts decreased their price target for SMLP shares from 15 to 9.
The Average True Range (ATR) for Summit Midstream Partners LP is set at 0.08, with the Price to Sales ratio for SMLP stock in the period of the last 12 months amounting to 0.13. The Price to Book ratio for the last quarter was 0.08, with the Price to Cash per share for the same quarter was set at 0.62. Price to Free Cash Flow for SMLP in the course of the last twelve months was 1.54 with Quick ratio for the last quarter at 1.10.
Trading performance analysis for SMLP stock
Summit Midstream Partners LP [SMLP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.62. With this latest performance, SMLP shares gained by 12.81% in over the last four-week period, additionally plugging by 5.68% over the last 6 months – not to mention a drop of -81.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMLP stock in for the last two-week period is set at 64.05, with the RSI for the last a single of trading hit 69.09, and the three-weeks RSI is set at 59.60 for Summit Midstream Partners LP [SMLP]. The present Moving Average for the last 50 days of trading for this stock 0.7381, while it was recorded at 0.7466 for the last single week of trading, and 1.1288 for the last 200 days.
Summit Midstream Partners LP [SMLP]: A deeper dive into fundamental analysis
Summit Midstream Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
Summit Midstream Partners LP [SMLP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Summit Midstream Partners LP posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -113.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SMLP.
An analysis of insider ownership at Summit Midstream Partners LP [SMLP]
There are presently around $20 million, or 66.20% of SMLP stock, in the hands of institutional investors. The top three institutional holders of SMLP stocks are: INVESCO LTD. with ownership of 13,906,836, which is approximately 0% of the company’s market cap and around 1.20% of the total institutional ownership; KAYNE ANDERSON CAPITAL ADVISORS LP, holding 3,016,502 shares of the stock with an approximate value of $2.65 million in SMLP stocks shares; and BROOKFIELD PUBLIC SECURITIES GROUP LLC, currently with $1.25 million in SMLP stock with ownership of nearly -55.424% of the company’s market capitalization.
19 institutional holders increased their position in Summit Midstream Partners LP [NYSE:SMLP] by around 4,253,052 shares. Additionally, 17 investors decreased positions by around 2,885,317 shares, while 14 investors held positions by with 15,675,029 shares. The mentioned changes placed institutional holdings at 22,813,398 shares, according to the latest SEC report filing. SMLP stock had 9 new institutional investments in for a total of 3,224,742 shares, while 10 institutional investors sold positions of 392,467 shares during the same period.