Summit Midstream (SMLP) Receives a Sell from Barclays
Barclays analyst Christopher Tillett maintained a Sell rating on Summit Midstream (SMLP) on July 16 and set a price target of $6. The company’s shares closed yesterday at $7.45, close to its 52-week low of $6.45.
According to TipRanks.com, Tillett is a 1-star analyst with an average return of -3.6% and a 37.5% success rate. Tillett covers the Basic Materials sector, focusing on stocks such as Antero Midstream Corporation, Western Midstream Partners, and Dcp Midstream Partners Lp.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Summit Midstream with a $7.13 average price target, which is a -4.3% downside from current levels. In a report issued on July 16, Credit Suisse also maintained a Sell rating on the stock with a $7 price target.
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Based on Summit Midstream’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $36.93 million. In comparison, last year the company had a GAAP net loss of $51.11 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.