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SMLP

Summit Midstream

$3.79

-0.05 (-1.30%)

17:12
11/19/19
11/19
17:12
11/19/19
17:12

Summit Midstream files to sell 51.2M shares of common stock for holders

SMLP Summit Midstream
$3.79

-0.05 (-1.30%)

04/29/19
04/29/19
DOWNGRADE
Target $10

Sector Perform
Summit Midstream cut to Sector Perform at RBC Capital on EBITDA risk
As previously reported, RBC Capital analyst Elvira Scotto downgraded Summit Midstream to Sector Perform and lowered her price target to $10 from $17. The analyst cites a heightened risk to the company's earnings and dividend payout after its 2019 adjusted EBITDA forecast was cut amid delays to the DJ processing plant and land issues in the Utica. Scotto also anticipates a "substantial increase" in Summit Midstream leverage in 2020.
06/19/19
SBSH
06/19/19
DOWNGRADE
Target $6.5
SBSH
Neutral
Summit Midstream downgraded to Neutral from Buy at Citi
Citi analyst Mirek Zak downgraded Summit Midstream Partners to Neutral from Buy and lowered his price target for the shares to $6.50 from $13. The analyst says concerns around the prior distribution cut and weaker rig activity in growth basins have materialized. Summit Midstream's growth opportunities in some operating segments "do not appear sufficient to offset challenges in others," Zak tells investors in a research note.
06/19/19
06/19/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. SunPower (SPWR) downgraded to Market Perform from Outperform at Raymond James with analyst Pavel Molchanov citing a "lofty enough" valuation. 2. Sabre (SABR) downgraded to Sell from Neutral at Goldman Sachs with analyst James Schneider stating industry-level challenges in each of Sabre's business segments are likely to be headwinds to revenue growth over the next year. 3. Energizer (ENR) downgraded to Underweight from Neutral at JPMorgan with analyst Andrea Teixeira saying recent Nielsen data points to a "tough" sales outlook for the company. 4. Summit Midstream (SMLP) downgraded to Neutral from Buy at Citi with analyst Mirek Zak noting concerns around the prior distribution cut and weaker rig activity in growth basins have materialized. 5. Hudson Technologies (HDSN) downgraded to Hold from Buy at Craig-Hallum with analyst Steve Dyer saying he is increasingly concerned that the company could trip its recently amended debt covenants as early as this quarter given a cool start to the summer selling season and his industry checks. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/19/19
RBCM
08/19/19
NO CHANGE
Target $6
RBCM
Sector Perform
Summit Midstream price target lowered to $6 from $9 at RBC Capital
RBC Capital analyst Elvira Scotto lowered her price target on Summit Midstream to $6 and kept her Sector Perform rating after the company reduced its FY19 adjusted EBITDA outlook to the low end of prior $295M-$315M guided range. The analyst notes that Summit Midstream's appointment of a new CEO is a positive given his expertise in the overlapping with Crestwood Equity (CEQP) Bakken, Permian, and Marcellus region, but she is "struggling" with the company's high leverage in the absence of any planned asset sales.

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NVAX

Novavax

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IQ

iQIYI

$23.93

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NFLX

Netflix

$334.85

-4.71 (-1.39%)

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  • 21

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BA

Boeing

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-17.9 (-5.52%)

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  • 29

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BA

Boeing

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PSN

Parsons

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QD

Qudian

$3.43

-0.085 (-2.42%)

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JBHT

J.B. Hunt

$116.15

1.38 (1.20%)

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BX

Blackstone

$61.57

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Melco Resorts & Entertainment

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WMT

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BAX

Baxter

$91.38

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UBER

Uber

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BA

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