Summit Midstream upgraded to Buy from Neutral at Goldman Goldman upgraded Summit Midstream to Buy citing expectations for above-average distribution growth. The firm raised its price target for shares to $52 from $43.
News For SMLP From The Last 14 Days
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Summit Midstream backs FY14 adjusted EBITDA view $190M-$210M SMLP continues to expect to pay a distribution for the fourth quarter that is 15.0%-20.0% over the 48c per unit distribution paid for the fourth quarter of 2013. Given the pending TEM acquisition and the decision to further expand compression capacity on the Bison Midstream system, SMLP is increasing its 2014 capital expenditure guidance from $100M-$115M to $125M-$135M, including $15-$20M of maintenance capital expenditures. SMLP's 2014 financial guidance excludes the effect of any other acquisitions or potential drop down transactions from Summit Investments.