Why Summit Midstream Partners, LP (NYSE:SMLP) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $22.81 on Summit Midstream Partners, LP (NYSE:SMLP) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $0.41 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Summit Midstream Partners, LP (NYSE:SMLP) stands at N/A.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Summit Midstream Partners, LP C, the PEG ratio for coming 3-5 years is 11.37.

Technical Analysis

The technical analysis highlights that Summit Midstream Partners, LP C current is trading $-0.13 points away or -0.59% from its 50-day moving average of $22.57. Further it is trading $3.07 or +15.87% away its 200-day moving average of $19.37.

The 52-week high of Summit Midstream Partners, LP (NYSE:SMLP) was $25.54 while lowest point recorded in 52-week was $11.06. It implies if stock price makes a movement of over $-3.10, it will record a new 52-week high. In the case of +102.89% drop, it will touch a new 52-week low.

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