In recent trading session, Summit Midstream Partners LP (NYSE:SMLP) saw 0.49 million shares changing hands at last check today with its beta currently measuring 2.32. Company’s recent per share price level of $25.19 trading at $5.76 or 29.64% at last check today assigns it a market valuation of $262.48M. That most recent trading price of SMLP’s stock is at a premium of 15.05% from its 52-week high price of $21.40 and is indicating a premium of 48.39% from its 52-week low price of $13.00. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 42910.0 shares which gives us an average trading volume of 26.04K if we extend that period to 3-months.
Summit Midstream Partners LP (NYSE:SMLP) trade information
Upright in the green today for gaining 29.64%, in the last five days SMLP remained trading in the green while hitting it’s week-highest on Friday, 03/22/24 when the stock touched $25.19 price level, adding 6.29% to its value on the day. Summit Midstream Partners LP’s shares saw a change of 40.65% in year-to-date performance and have moved 36.53% in past 5-day. Summit Midstream Partners LP (NYSE:SMLP) showed a performance of 46.20% in past 30-days. Number of shares sold short was 38750.0 shares which calculate 1.53 days to cover the short interests.
Summit Midstream Partners LP (SMLP) estimates and forecasts
This year revenue growth is estimated to rise 24.20% from the last financial year’s standing.
1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $121.19 million for the same. And 1 analysts are in estimates of company making revenue of $127.32 million in the next quarter that will end on Dec 2023. Company posted $68.4 million and $85.72 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 77.20% while estimating it to be 48.50% for the next quarter.
SMLP Dividends
Summit Midstream Partners LP is more likely to be releasing its next quarterly report between May 03 and May 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Summit Midstream Partners LP (NYSE:SMLP)’s Major holders
Insiders are in possession of 6.05% of company’s total shares while institution are holding 44.95 percent of that, with stock having share float percentage of 47.84%. Investors also watch the number of corporate investors in a company very closely, which is 44.95% 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 0.91 million shares of worth $22.44 million. And as of Dec 30, 2023, it was holding 8.74% of the company’s outstanding shares.
The second largest institutional holder is Shenkman Capital Management Inc, which was holding about 0.89 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 8.58% of outstanding shares, having a total worth of $22.04 million.
On the other hand, Invesco Steelpath MLP Income Fund and Invesco Steelpath MLP Select 40 Fund are the top two Mutual Funds which own company’s shares. As of Nov 29, 2023, the former fund manager was holding 0.74 million shares of worth $18.21 million or 7.09% of the total outstanding shares. The later fund manager was in possession of 0.17 million shares on Nov 29, 2023, making its stake of worth around $4.23 million in the company or a holder of 1.65% of company’s stock.
