Summit Midstream Partners LP (NYSE:SMLP) has been upgraded to Buy in a statement by Wells Fargo & Company earlier today.
- Updated: January 11, 2017
Wells Fargo & Company has upgraded Summit Midstream Partners LP (NYSE:SMLP) to Buy in a report released on 1/11/2017.
Previously on 1/05/2017, Zacks Investment Research reported about Summit Midstream Partners LP (NYSE:SMLP) raised the target price from $0.00 to $28.00. At the time, this indicated a possible upside of 0.09%.
Yesterday Summit Midstream Partners LP (NYSE:SMLP) traded 2.53% higher at $25.15. The company’s 50-day moving average is $23.55 and its 200-day moving average is $23.01. The last stock close price is up 11.18% from the 200-day moving average, compared to the S&P 500 which has decreased -0.04% over the same time. 39,700 shares of the stock were exchanged, down from an average trading volume of 182,595
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Summit Midstream Partners LP has a 52 week low of $11.06 and a 52 week high of $26.10 Summit Midstream Partners LP’s market capitalization is currently $0.
In addition to Wells Fargo & Company reporting its stock price target, a total of 12 brokerages have issued a ratings update on the company. The average stock price target is $20.13 with 2 brokerages rating the stock a strong buy, 4 brokerages rating the stock a buy, 6 brokerages rating the stock a hold, 1 brokerage rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
Brief Synopsis On Summit Midstream Partners LP (NYSE:SMLP)
Summit Midstream Partners, LP is a limited partnership focused on developing, owning and operating midstream energy infrastructure assets. The Company's segments include the Marcellus Shale, which is served by Mountaineer Midstream; the Williston Basin, which is served by Bison Midstream; the Barnett Shale, which is served by DFW Midstream; the Piceance Basin, which is served by Grand River, and Corporate. It provides natural gas gathering, treating and processing services pursuant to long-term and natural gas gathering and processing agreements. The Company operates in approximately four resource basins, including the Appalachian Basin, the Williston Basin, the Fort Worth Basin and the Piceance Basin. Its midstream assets gathering systems include Mountaineer Midstream in northern West Virginia; Bison Midstream in northwestern North Dakota; Polar and Divide in northwestern North Dakota; DFW Midstream in north-central Texas, and Grand River in western Colorado and eastern Utah.
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