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Summit Midstream Partners (SMLP) Looks Good: Stock Adds 8% in Session

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Hawaiian Electric's (HE) systematic investments in utility infrastructure coupled with gradual recovery in the Hawaiian economy are likely to drive the company's future performance.

Summit Midstream Partners, LP SMLP was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $14.30 to $15.56 in the past one-month time frame.

The company has seen one positive estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Summit Midstream Partners. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Summit Midstream Partners currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Summit Midstream Partners, LP Price

Summit Midstream Partners, LP Price | Summit Midstream Partners, LP Quote

Investors interested in the Oil and Gas - Production Pipeline – MLB industry may consider a better-ranked stock like EnLink Midstream Partners, LP ENLK, which carries a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

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