The price-to-earnings ratio for Summit Midstream Partners LP (NYSE: SMLP) is above average at 4.35x. The 36-month beta value for SMLP is also noteworthy at 2.39. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 2 rating it as “overweight,” 4 rating it as “hold,” and 2 rating it as “sell.”
The public float for SMLP is 9.01M, and at present, short sellers hold a 0.47% of that float. The average trading volume of SMLP on May 06, 2024 was 54.98K shares.
SMLP) stock’s latest price update
The stock of Summit Midstream Partners LP (NYSE: SMLP) has increased by 20.81 when compared to last closing price of 28.16.Despite this, the company has seen a gain of 17.35% in its stock price over the last five trading days. PRNewsWire reported 2024-04-25 that HOUSTON, April 25, 2024 /PRNewswire/ — Summit Midstream Partners, LP (NYSE: SMLP) (“Summit,” “SMLP” or the “Partnership”) today announced it will report operating and financial results for the first quarter of 2024 on Friday, May 3, 2024, before the open of trading on the New York Stock Exchange. Summit also announced the expiration and results of the previously announced cash tender offer (the “Excess Cash Flow Offer”) of Summit Midstream Holdings, LLC (“Holdings”) and Summit Midstream Finance Corp. (together with Holdings, the “Issuers”), which are subsidiaries of the Partnership, to purchase up to $19,331,000 aggregate principal amount of their outstanding 8.500% Senior Secured Second Lien Notes due 2026 (the “Notes”) at a purchase price of 100% of the aggregate principal amount thereof, plus accrued and unpaid interest to, but not including, the purchase date.
SMLP’s Market Performance
Summit Midstream Partners LP (SMLP) has experienced a 17.35% rise in stock performance for the past week, with a 20.17% rise in the past month, and a 108.33% rise in the past quarter. The volatility ratio for the week is 7.34%, and the volatility levels for the past 30 days are at 4.15% for SMLP. The simple moving average for the past 20 days is 20.72% for SMLP’s stock, with a 82.24% simple moving average for the past 200 days.
Analysts’ Opinion of SMLP
Many brokerage firms have already submitted their reports for SMLP stocks, with Wells Fargo repeating the rating for SMLP by listing it as a “Underweight.” The predicted price for SMLP in the upcoming period, according to Wells Fargo is $3.50 based on the research report published on January 07, 2020 of the previous year 2020.
Citigroup, on the other hand, stated in their research note that they expect to see SMLP reach a price target of $6.50, previously predicting the price at $13. The rating they have provided for SMLP stocks is “Neutral” according to the report published on June 19th, 2019.
RBC Capital Mkts gave a rating of “Sector Perform” to SMLP, setting the target price at $10 in the report published on April 29th of the previous year.
SMLP Trading at 38.67% from the 50-Day Moving Average
After a stumble in the market that brought SMLP to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 15.18% of gains for the given period.
Volatility was left at 4.15%, however, over the last 30 days, the volatility rate increased by 7.34%, as shares surge +20.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +97.45% upper at present.
During the last 5 trading sessions, SMLP rose by +17.35%, which changed the moving average for the period of 200-days by +122.64% in comparison to the 20-day moving average, which settled at $28.47. In addition, Summit Midstream Partners LP saw 89.95% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SMLP starting from Johnston James David, who sale 3,400 shares at the price of $25.21 back on Mar 22 ’24. After this action, Johnston James David now owns 48,201 shares of Summit Midstream Partners LP, valued at $85,714 using the latest closing price.
Johnston James David, the below. of Summit Midstream Partners LP, sale 600 shares at $20.25 during a trade that took place back on Mar 15 ’24, which means that Johnston James David is holding 22,250 shares at $12,150 based on the most recent closing price.
Stock Fundamentals for SMLP
Current profitability levels for the company are sitting at:
- 0.18 for the present operating margin
- 0.35 for the gross margin
The net margin for Summit Midstream Partners LP stands at 0.23. The total capital return value is set at 0.04. Equity return is now at value 11.78, with 4.46 for asset returns.
Based on Summit Midstream Partners LP (SMLP), the company’s capital structure generated 0.54 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 1.19. The interest coverage ratio of the stock is 1125.12.
Currently, EBITDA for the company is 205.79 million with net debt to EBITDA at 5.43. When we switch over and look at the enterprise to sales, we see a ratio of 2.5. The receivables turnover for the company is 6.99for trailing twelve months and the total asset turnover is 0.2. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.64.
Conclusion
In summary, Summit Midstream Partners LP (SMLP) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
