In a report issued on August 9, Praneeth Satish from Wells Fargo maintained a Hold rating on Summit Midstream (NYSE: SMLP). The company’s shares opened today at $16.80.
According to TipRanks.com, Satish is ranked #4395 out of 4847 analysts.
Currently, the analyst consensus on Summit Midstream is a Moderate Buy with an average price target of $19.50, which is a 16.1% upside from current levels. In a report issued on August 5, SunTrust Robinson also reiterated a Hold rating on the stock with a $19 price target.
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Based on Summit Midstream’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $51.11 million. In comparison, last year the company had a net profit of $8.81 million.
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Summit Midstream Partners LP is a limited partnership focused on owning and operating midstream energy infrastructure that is strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in North America.
