Ancora Advisors LLC Invests $1.08 Million in Summit Midstream Corporation (NYSE:SMC)

Ancora Advisors LLC acquired a new position in Summit Midstream Corporation (NYSE:SMC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 28,567 shares of the company's stock, valued at approximately $1,079,000. Ancora Advisors LLC owned 0.27% of Summit Midstream at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of Summit Midstream by 1,106.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company's stock worth $118,000 after purchasing an additional 2,854 shares in the last quarter. SG Americas Securities LLC acquired a new position in Summit Midstream during the 4th quarter worth approximately $159,000. EntryPoint Capital LLC purchased a new position in Summit Midstream in the 4th quarter worth approximately $207,000. Barclays PLC acquired a new stake in Summit Midstream in the third quarter valued at approximately $194,000. Finally, Quantbot Technologies LP acquired a new stake in Summit Midstream in the fourth quarter valued at approximately $229,000. 42.97% of the stock is owned by institutional investors and hedge funds.

Summit Midstream Stock Up 0.2 %

Shares of NYSE SMC traded up $0.05 during trading on Friday, reaching $28.34. 40,797 shares of the stock were exchanged, compared to its average volume of 83,617. The business's 50-day moving average price is $31.91 and its 200 day moving average price is $36.28. The company has a market capitalization of $528.40 million, a price-to-earnings ratio of -2.21 and a beta of 1.17. Summit Midstream Corporation has a twelve month low of $25.00 and a twelve month high of $45.89. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20.

Summit Midstream (NYSE:SMC - Get Free Report) last announced its earnings results on Friday, March 21st. The company reported ($2.40) 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%. During the same period last year, the company earned ($2.12) EPS.

Insider Buying and Selling at Summit Midstream

In other news, CEO J Heath Deneke sold 1,000 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $34.67, for a total value of $34,670.00. Following the completion of the sale, the chief executive officer now owns 266,170 shares of the company's stock, valued at approximately $9,228,113.90. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 20,052 shares of company stock valued at $807,596 in the last three months. Corporate insiders own 37.80% of the company's stock.

About Summit Midstream

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.