Summit Midstream Partners, LP C (NYSE:SMLP):
Summit Midstream Partners, LP Announces Third Quarter 2016 Distribution.
The company is so far trading up from yesterday’s close of $22.25.
Additionally the company declared a dividend that was paid on Friday the 12th of August 2016. The dividend was $0.575 per share for the quarter which comes to $2.30 on an annualized basis. This dividend represents a yeild of $10.31 which is the dividend as a percentage of the current share price. The ex-dividend date was Wednesday the 3rd of August 2016.
The stock is trading at $22.60 which is just a bit below the 50 day moving average which is $22.89 and which is slightly above the 200 day moving average of $22.30. The 50 day moving average was down $-0.29 or -1.28% and the 200 day average went up by +1.34%.
In the latest earnings report the EPS was $-3.85 and is estimated to be $-0.74 for the current year with 66,588,000 shares outstanding. Next quarter’s EPS is estimated at $0.18 with next year’s EPS anticipated to be $0.73.
Ratings analysts have provided guidance on Summit Midstream Partners, LP C. August 18 investment analysts at Barclays made no change to the stock rating of “Equal-weight” but lowered the price expectation to $25.00 from $37.00. Equity analyst Credit Suisse issued its first research report on the stock giving it an initial rating of “Neutral”.
On May 12 Goldman Sachs maintained a company rating of “Neutral” but moved up the price target from $16.00 to $18.00. On March 11 the company was downgraded to “Neutral” from “Buy” and a price target of $16.00 was set in a statement from Goldman Sachs.
Goldman Sachs both downgraded the stock and lowered the price target on March 11 changing the price objective from $19.00 to $16.00 and altering the rating from “Buy” to “Neutral”. On March 10 the stock rating was downgraded from “Buy” to “Neutral” with a current price target of $16.50 by Citigroup.