Recent extremely meaningful negative changes in investment behavior have impacted Summit Midstream Partners LP (NYSE: SMLP): its longer term price trend turned down, its shorter term price trend turned down, the stock fell on very heavy volume, and negative upside/downside volume developed.
Recent minimal negative changes in fundamentals have impacted Summit Midstream Partners LP (NYSE: SMLP): significant quarterly earnings deceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of A. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
SMLP is expected to continue to be Value Creation neutral reflecting capital returns that are forecasted to be in line with the cost of capital.
Summit Midstream Partners has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Summit Midstream Partners has a good Power Rating of 84 and a very high Appreciation Score of 91, and the Highest Value Trend Rating results.
Recent Price Action
Summit Midstream Partners LP (NYSE: SMLP) stock suffered a large decline of -5.8% on 12/15/23. The stock closed at $17.24. Moreover, trading volume in this decline was exceptionally high at 487% of normal. The stock has been exceptionally strong relative to the market over the last nine months but has declined -4.2% during the last week.
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