In recent trading session, Summit Midstream Partners, LP (NYSE:SMLP) saw 3,775,298 shares changing hands with its beta currently measuring 3.34. Company’s recent per share price level of $0.79 trading at $0.01 or 0.98% at recent trade assigns it a market valuation of $44.2 Million. That current trading price of SMLP’s stock is at a discount of -570.89% from its 52-week high price of $5.3 and is indicating a premium of 36.71% from its 52-week low price of $0.5. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.99 Million shares which gives us an average trading volume of 640.9 Million if we extend that period to 3-months.
For Summit Midstream Partners, LP (SMLP), analysts’ consensus is at an average recommendation of Underweight while assigning it a mean rating of 3.8. Splitting up the data highlights that, out of 5 analysts covering the stock, 3 rated the stock as a Sell while none recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas none see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.14 in the current quarter.
Summit Midstream Partners, LP (NYSE:SMLP) trade information
Upright in the green today for gaining 0.98%, in the last five days SMLP remained trading in the green while hitting it’s week-highest on Friday, Oct 16 when the stock touched $0.92 price level, adding 14.98% to its value on the day. Summit Midstream Partners, LP’s shares saw a change of -76.37% in year-to-date performance and have moved 1.61% in past 5-day. Summit Midstream Partners, LP (NYSE:SMLP) showed a performance of 7.15% in past 30-days. Number of shares sold short was 134.46 Million shares which calculate 0.21 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $0.8 to the stock, which implies a rise of 1.27% to its current value. Analysts have been projecting $0.5 as a low price target for the stock while placing it at a high target of $1. It follows that stock’s current price would jump +26.58% in reaching the projected high whereas dropping to the targeted low would mean a loss of -36.71% for stock’s current value.
Summit Midstream Partners, LP (SMLP) estimates and forecasts
Statistics highlight that Summit Midstream Partners, LP is scoring comparatively higher than the scores of other players of the relevant industry. The company lessened -3.12% of value to its shares in past 6 months, showing an annual growth rate of NA% while that of industry is -12.3. Apart from that, the company came raising its revenue forecast for fiscal year 2020. The company is estimating its revenue growth to increase by 800% in the current quarter and calculating -81.8% decline in the next quarter. This year revenue growth is estimated to drop -12.9% from the last financial year’s standing.
2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $98.8 Million for the same. And 2 analysts are in estimates of company making revenue of $97.95 Million in the next quarter that will end in December 01, 2020. Company posted $100.19 Million and $112.25 Million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to drop by -1.4% while estimating it to be -12.7% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -59.4% during past 5 years. In 2020, company’s earnings growth rate is likely to be around 604.8% while estimates for its earnings growth in next 5 years are of 0%
Summit Midstream Partners, LP (NYSE:SMLP)’s Major holders
Insiders are in possession of 56.55% of company’s total shares while institution are holding 23.91% percent of that, with stock having share float percentage of 55.04%. Investors also watch the number of corporate investors in a company very closely, which is 56 institutions for Summit Midstream Partners, LP that are currently holding shares of the company. Invesco Ltd. is the top institutional holder at SMLP for having 13.91 Million shares of worth $13.77 Million. And as of June 29, 2020, it was holding 24.89% of the company’s outstanding shares.
The second largest institutional holder is Bank of America Corporation, which was holding about 984.82 Thousand shares on June 29, 2020. The number of shares represents firm’s hold over 1.76% of outstanding shares, having a total worth of $975.36 Thousand.
On the other hand, Invesco Oppenheimer Steelpath MLP Income and Invesco Oppenheimer Steelpath MLP Select 40 are the top two Mutual Funds which own company’s shares. As of May 30, 2020, the former fund manager was holding 11150202 shares of worth $14.61 Million or 19.95% of the total outstanding shares. The later fund manager was in possession of 2.76 Million shares on May 30, 2020, making its stake of worth around $3.61 Million in the company or a holder of 4.93% of company’s stock.