SG Americas Securities LLC Takes $159,000 Position in Summit Midstream Corporation (NYSE:SMC)

SG Americas Securities LLC acquired a new position in shares of Summit Midstream Corporation (NYSE:SMC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,214 shares of the company’s stock, valued at approximately $159,000.

A number of other institutional investors have also recently bought and sold shares of SMC. Valeo Financial Advisors LLC bought a new position in shares of Summit Midstream during the third quarter worth $529,000. Fractal Investments LLC bought a new position in Summit Midstream during the third quarter worth about $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream in the third quarter valued at about $1,311,000. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream in the third quarter worth about $3,794,000. Finally, Jane Street Group LLC acquired a new stake in shares of Summit Midstream during the third quarter worth about $227,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

Summit Midstream Stock Performance

Shares of SMC opened at $42.69 on Monday. The company has a 50 day simple moving average of $38.50. Summit Midstream Corporation has a 52-week low of $15.76 and a 52-week high of $43.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $454.61 million, a price-to-earnings ratio of -3.33 and a beta of 2.37.

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

Insider Buying and Selling

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $34.94, for a total value of $34,940.00. Following the sale, the chief executive officer now owns 262,006 shares in the company, valued at approximately $9,154,489.64. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 34,000 shares of company stock valued at $1,290,870. Company insiders own 5.30% of the company’s stock.

Summit Midstream Company 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.