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Increased Earnings Estimates Seen for Summit Midstream Partners (SMLP): Can It Move Higher?

Summit Midstream Partners, LP SMLP is a midstream energy infrastructure company that could be an interesting play for investors. That is because, not only does the 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 Partners could be a solid choice for investors.

Current Quarter Estimates for SMLP

In the past 30 days, 1 estimate has gone higher for Summit Midstream Partners, while 1 has gone lower in the same time period. The trend has been pretty favorable, with estimates increasing from 12 cents a share 30 days ago, to 16 cents today, a move of 33.3%.

Current Year Estimates for SMLP

Meanwhile, Summit Midstream Partners’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 57 cents per share 30 days ago to 65 cents per share today, an increase of 14%.

Bottom Line

The stock has also started to move higher lately, adding 7% 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 #2 (Buy) stock to profit in the near future.

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SUMMIT MIDSTRM (SMLP): Free Stock Analysis Report
 
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