Goldman Sachs Starts Summit Midstream Partners, LP (SMLP) at Neutral

Goldman Sachs initiates coverage on Summit Midstream Partners, LP (NYSE: SMLP) with a Neutral. PT $23.00.

"We recognize SMLP's attractive attributes, including a strong balance sheet, cash flow visibility via its highly contracted pipelines, and a 7.7% upfront yield with strong 1.2x coverage," the firm comments. "However, we have concerns over its ability to generate sustainable long-term distribution growth from organic projects given its asset concentration in the slow growth Barnett shale and Piceance basin."

For an analyst ratings summary and ratings history on Summit Midstream Partners, LP click here. For more ratings news on Summit Midstream Partners, LP click here.

Shares of Summit Midstream Partners, LP closed at $20.53 yesterday.

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