4,214 Shares in Summit Midstream Corporation (NYSE:SMC) Purchased by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in Summit Midstream Corporation (NYSE:SMC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 4,214 shares of the company’s stock, valued at approximately $159,000.

Several other institutional investors have also recently made changes to their positions in the stock. Virtus Fund Advisers LLC bought a new position in shares of Summit Midstream in the third quarter valued at $3,794,000. Geode Capital Management LLC acquired a new stake in Summit Midstream in the third quarter valued at $3,313,000. Fractal Investments LLC bought a new position in shares of Summit Midstream in the 3rd quarter valued at about $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Summit Midstream during the 3rd quarter worth about $1,311,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Summit Midstream in the 3rd quarter valued at about $529,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

Summit Midstream Stock Performance

Summit Midstream stock opened at $42.69 on Monday. The stock’s 50-day simple moving average is $38.50. The company has a market capitalization of $454.61 million, a PE ratio of -3.33 and a beta of 2.37. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream Corporation has a 52 week low of $15.76 and a 52 week high of $43.99.

Summit Midstream (NYSE:SMC) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($15.28) earnings per share (EPS) for the quarter. The business had revenue of $102.42 million during the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%.

Insider Buying and Selling at Summit Midstream

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.54, for a total transaction of $35,540.00. Following the completion of the sale, the chief executive officer now directly owns 286,006 shares in the company, valued at $10,164,653.24. This trade represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 34,000 shares of company stock valued at $1,290,870 in the last quarter. 5.30% of the stock is currently owned by insiders.

Summit Midstream Profile

Summit Midstream Corporation focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. It operates natural gas, crude oil, and produced water gathering systems in four unconventional resource basins, including the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin that consists of the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which comprises the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the Mesaverde formation, as well as the emerging Mancos and Niobrara Shale formations.