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Why Summit Midstream (SMLP) Could Be Positioned for a Surge
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Summit Midstream Partners, LP (SMLP - Free Report) is is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. The company could be an interesting play for investors because, not only does its stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SMLP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Summit Midstream could be a solid choice for investors.
Current Quarter Estimates for SMLP
In the past 30 days, two estimates have gone higher for Summit Midstream while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates with estimates increasing from 10 cents a share 30 days ago, to 18 cents today, a move of 80%.
Current Year Estimates for SMLP
Meanwhile, Summit Midstream’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 85 cents per share 30 days ago to a loss of 76 cents per share today, an increase of 10.6%.
The stock has also started to move higher lately, adding 5.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Why Summit Midstream (SMLP) Could Be Positioned for a Surge
Summit Midstream Partners, LP (SMLP - Free Report) is is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. The company could be an interesting play for investors because, not only does its stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SMLP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Summit Midstream could be a solid choice for investors.
Current Quarter Estimates for SMLP
In the past 30 days, two estimates have gone higher for Summit Midstream while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates with estimates increasing from 10 cents a share 30 days ago, to 18 cents today, a move of 80%.
Current Year Estimates for SMLP
Meanwhile, Summit Midstream’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 85 cents per share 30 days ago to a loss of 76 cents per share today, an increase of 10.6%.
SUMMIT MIDSTRM Price and Consensus
SUMMIT MIDSTRM Price and Consensus | SUMMIT MIDSTRM Quote
Bottom Line
The stock has also started to move higher lately, adding 5.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>