SMLP Stock Summary and Trading Ideas (Summit Midstream Partners LP Common Units Representing Limited Partner Interests | NYSE:SMLP)

Summit Midstream Partners LP is a United States-based energy solutions provider involved in the oil and gas industry. The company develops, owns, and operates midstream energy infrastructure assets. The company conduct and reports operations in the midstream energy industry through five reportable segments: Northeast, Rockies, Permian, Piceance, and Barnett. It offers systems that gather natural gas from pad sites, wells, and central receipt points connected to the company's systems with provisions to supply to processing plants, contractors, and end-users. The Majority of its assets are located in the producing areas of unconventional resource basins in the continental United States. It derives the majority of its revenues from the Piceance.

Summit Midstream Partners LP Common Units Representing Limited Partner Interests trades on the NYSE stock market under the symbol SMLP.

As of April 24, 2024, SMLP stock price declined to $27.91 with 17,918 million shares trading.

SMLP has a beta of 1.34, meaning it tends to be more sensitive to market movements. SMLP has a correlation of 0.07 to the broad based SPY ETF.

SMLP has a market cap of $290.70 million. This is considered a Small Cap stock.

In the last 3 years, SMLP stock traded as high as $46.64 and as low as $11.52.

The top ETF exchange traded funds that SMLP belongs to (by Net Assets): KRUZ, MLPA.

SMLP has outperformed the market in the last year with a price return of +75.6% while the SPY ETF gained +24.2%. SMLP has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +68.1% and -1.3%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

SMLP support price is $27.25 and resistance is $28.72 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SMLP stock will trade within this expected range on the day.