.jpg "Summit Midstream (NYSE: SMLP)")
Wells Fargo analyst Michael Blum maintained a Hold rating on Summit Midstream (SMLP) yesterday. The company’s shares closed on Friday at $10.41, close to its 52-week low of $10.04.
According to TipRanks.com, Blum is a 4-star analyst with an average return of 8.9% and a 55.4% success rate. Blum covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Dcp Midstream Partners Lp, and Targa Resources Corp.
Currently, the analyst consensus on Summit Midstream is a Moderate Buy with an average price target of $15.50.
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Based on Summit Midstream’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $35.75 million. In comparison, last year the company had a GAAP net loss of $20.09 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.
