Summit Midstream Partners LP Announces Quarterly Dividend of $0.29 (NYSE:SMLP)

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Summit Midstream Partners LP (NYSE:SMLP) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.287 per share by the pipeline company on Thursday, November 14th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 22.12%. The ex-dividend date is Wednesday, November 6th.

Shares of Summit Midstream Partners stock opened at $5.19 on Tuesday. The stock has a market capitalization of $407.73 million, a price-to-earnings ratio of 86.50 and a beta of 1.66. Summit Midstream Partners has a 1-year low of $4.33 and a 1-year high of $16.41. The firm has a fifty day simple moving average of $4.91 and a 200-day simple moving average of $6.48. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 1.68.

Summit Midstream Partners (NYSE:SMLP) last released its earnings results on Friday, August 9th. The pipeline company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.19). The company had revenue of $99.69 million for the quarter, compared to analyst estimates of $108.50 million. Summit Midstream Partners had a net margin of 13.00% and a return on equity of 12.35%. As a group, research analysts predict that Summit Midstream Partners will post 0.32 earnings per share for the current year.

SMLP has been the subject of several research analyst reports. Wells Fargo & Co set a $6.00 target price on shares of Summit Midstream Partners and gave the company a “hold” rating in a research note on Monday, August 12th. ValuEngine upgraded shares of Summit Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Barclays reiterated a “sell” rating and set a $4.00 target price on shares of Summit Midstream Partners in a research note on Wednesday, October 16th. Credit Suisse Group set a $5.00 target price on shares of Summit Midstream Partners and gave the company a “sell” rating in a research note on Friday, August 16th. Finally, Zacks Investment Research cut shares of Summit Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Summit Midstream Partners presently has an average rating of “Hold” and a consensus price target of $6.69.

About Summit Midstream Partners

Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, treating, and processing services, as well as crude oil and produced water gathering services.

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Dividend History for Summit Midstream Partners (NYSE:SMLP)

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