Summit Midstream Partners, LP C (NYSE:SMLP):
Summit Midstream Partners, LP Schedules Third Quarter 2016 Earnings Release & Conference Call.
The company is now up by 1.57 percent from yesterday’s close.
The company recently declared a dividend for shareholders that was paid on Friday August 12th, 2016. The dividend payment was $0.575 per share for the quarter or $2.30 on an annualized basis. The dividend yield was $10.31. The ex-dividend date was set for Wednesday the 3rd of August 2016.
Shares are trading at $22.60 marginally under $22.89, the 50 day moving average and just a bit higher than the 200 day moving average of $22.30. The 50 day moving average moved down $-0.29 and the 200 day average went up $0.30 or +1.34%.
In the latest earnings report the EPS was $-3.85 and is expected to be $-0.74 for the current year with 66,588,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.18 and the next full year EPS is anticipated to be $0.73.
A few Wall Street investment firms have issued ratings on the company. August 18 investment analysts at Barclays made no change to the stock rating of “Equal-weight” but moved down the price target to $25.00 from $37.00. On May 24, 2016 Credit Suisse starting coverage on SMLP giving it an initial rating of “Neutral”.
On May 12 Goldman Sachs held the company rating at “Neutral” and moved up the price target from $16.00 to $18.00. Equity analyst Goldman Sachs downgraded the stock and lowered the price target on March 11 cutting the price target from $19.00 to $16.00 and changing the rating from “Buy” to “Neutral”.
On March 11 the company was downgraded from “Buy” to “Neutral” and a price target of $16.00 was set in a report from Goldman Sachs. Citigroup both downgraded the stock and lowered the price target on March 10 changing the price target from $0.00 to $16.50 and moving the rating from “Buy” to “Neutral”.