What’s in Summit Midstream Partners LP After Today’s Bullish Options Activity?

 What's in Summit Midstream Partners LP After Today's Bullish Options Activity?

In today’s session Summit Midstream Partners LP (SMLP) registered an unusually high (3,054) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious SMLP increase. With 3,054 contracts traded and 52304 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: SMLP161216C00022500 closed last at: $0.4 or 11.1% down. About 2,254 shares traded hands. Summit Midstream Partners LP (NYSE:SMLP) has risen 11.19% since April 28, 2016 and is uptrending. It has outperformed by 5.27% the S&P500.

Analysts await Summit Midstream Partners LP (NYSE:SMLP) to report earnings on February, 23. They expect $0.18 EPS, down 69.49% or $0.41 from last year’s $0.59 per share. SMLP’s profit will be $13.76 million for 31.25 P/E if the $0.18 EPS becomes a reality.

Summit Midstream Partners LP (NYSE:SMLP) Ratings Coverage

Out of 7 analysts covering Summit Midstream Partners (NYSE:SMLP), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $34 is the highest target while $16 is the lowest. The $24.50 average target is 8.89% above today’s ($22.5) stock price. Summit Midstream Partners has been the topic of 15 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Summit Midstream Partners LP (NYSE:SMLP) earned “Market Perform” rating by Wells Fargo on Friday, January 15. The firm has “Outperform” rating by Robert W. Baird given on Friday, August 12. The stock of Summit Midstream Partners LP (NYSE:SMLP) has “Market Perform” rating given on Monday, January 18 by Wells Fargo. The stock has “Neutral” rating given by Citigroup on Thursday, March 10. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, September 6 report. Robert W. Baird downgraded Summit Midstream Partners LP (NYSE:SMLP) rating on Monday, August 17. Robert W. Baird has “Neutral” rating and $26 price target. The stock of Summit Midstream Partners LP (NYSE:SMLP) earned “Neutral” rating by Credit Suisse on Tuesday, May 24. The firm has “Neutral” rating by Goldman Sachs given on Friday, March 11. The rating was maintained by Goldman Sachs with “Neutral” on Thursday, May 12.

According to Zacks Investment Research, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas.”

Insitutional Activity: The institutional sentiment increased to 2.2 in Q2 2016. Its up 1.70, from 0.5 in 2016Q1. The ratio is positive, as 12 funds sold all Summit Midstream Partners LP shares owned while 20 reduced positions. 3 funds bought stakes while 13 increased positions. They now own 23.51 million shares or 14.00% less from 27.34 million shares in 2016Q1.
Renaissance Tech Limited Liability Co last reported 88,900 shares in the company. Jpmorgan Chase & has invested 0% of its portfolio in Summit Midstream Partners LP (NYSE:SMLP). Ladenburg Thalmann Financial Services Inc has 1,194 shares for 0% of their US portfolio. Toronto Dominion Fincl Bank holds 2,938 shares or 0% of its portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt has 0.27% invested in the company for 630,384 shares. Salient Capital Advisors Ltd Liability Corporation has 365,790 shares for 0.19% of their US portfolio. Burnham Asset Mngmt Corp Ny accumulated 0.32% or 50,175 shares. Westwood Hldg Group Inc, a Texas-based fund reported 447,358 shares. Polaris Greystone Gru Limited Liability Company holds 0.13% or 35,600 shares in its portfolio. Van Eck Associate Corporation holds 64,731 shares or 0.01% of its portfolio. Deutsche Bancorporation Ag holds 0% or 207,522 shares in its portfolio. Barclays Pcl reported 39,626 shares or 0% of all its holdings. Goodwin Daniel L last reported 30,542 shares in the company. Evergreen Cap Management Limited Liability Com, a Washington-based fund reported 598,805 shares. Kayne Anderson Cap Advsr L P holds 0.02% of its portfolio in Summit Midstream Partners LP (NYSE:SMLP) for 71,100 shares.

Insider Transactions: Since June 13, 2016, the stock had 1 insider buy, and 5 sales for $220,492 net activity. Shares for $98,022 were sold by Degeyter Brock M on Wednesday, August 31. 1,920 shares were sold by Harrison Matthew S., worth $48,002 on Tuesday, September 6. The insider ENERGY CAPITAL PARTNERS II – LLC bought 17,839 shares worth $373,303. 12,500 Summit Midstream Partners LP (NYSE:SMLP) shares with value of $312,500 were sold by Newby Steven J.

Summit Midstream Partners, LP is a limited partnership focused on developing, owning and operating midstream energy infrastructure assets. The company has a market cap of $1.72 billion. The Company’s divisions 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 currently has negative earnings. It provides natural gas gathering, treating and processing services pursuant to long-term and natural gas gathering and processing agreements.

SMLP Company Profile

Summit Midstream Partners, LP, incorporated on May 1, 2012, is a limited partnership focused on developing, owning and operating midstream energy infrastructure assets. The Company’s assets are located in the producing areas of unconventional resource basins, primarily shale formations, in North America. It provides natural gas gathering, treating and processing services pursuant to long-term and natural gas gathering and processing agreements with its clients and counterparties. The Company’s divisions 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.

More notable recent Summit Midstream Partners LP (NYSE:SMLP) news were published by: Marketwatch.com which released: “Summit Midstream Partners started at neutral with $27 stock price target at …” on September 28, 2012, also Prnewswire.com with their article: “Summit Midstream Partners, LP Reports Third Quarter 2016 Financial Results” published on November 03, 2016, Prnewswire.com published: “Summit Midstream Partners, LP Announces Closing of Drop Down Assets from …” on March 04, 2016. More interesting news about Summit Midstream Partners LP (NYSE:SMLP) were released by: Prnewswire.com and their article: “Summit Midstream Partners, LP Schedules Third Quarter 2016 Earnings Release …” published on October 20, 2016 as well as Fool.com‘s news article titled: “How Safe Is Summit Midstream Partners, LP Stock?” with publication date: April 05, 2016.

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