JPMorgan Chase & Co. Makes New Investment in Summit Midstream Corporation (NYSE:SMC)

JPMorgan Chase & Co. acquired a new position in Summit Midstream Corporation (NYSE:SMC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,461 shares of the company's stock, valued at approximately $357,000. JPMorgan Chase & Co. owned about 0.09% of Summit Midstream as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Summit Midstream during the fourth quarter worth about $159,000. Barclays PLC bought a new position in Summit Midstream in the third quarter worth $194,000. EntryPoint Capital LLC purchased a new position in shares of Summit Midstream during the fourth quarter valued at approximately $207,000. Jane Street Group LLC purchased a new stake in Summit Midstream during the 3rd quarter valued at about $227,000. Finally, Quantbot Technologies LP bought a new stake in shares of Summit Midstream in the 4th quarter worth $229,000. 42.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.43, for a total transaction of $43,430.00. Following the completion of the sale, the chief executive officer now owns 254,326 shares of the company's stock, valued at approximately $11,045,378.18. The trade was a 0.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 21,052 shares of company stock worth $850,266. Corporate insiders own 37.80% of the company's stock.

Summit Midstream Stock Performance

NYSE:SMC traded up $1.06 on Wednesday, hitting $27.70. The stock had a trading volume of 74,508 shares, compared to its average volume of 83,878. Summit Midstream Corporation has a 52-week low of $25.72 and a 52-week high of $45.89. The business's 50-day simple moving average is $32.46 and its two-hundred day simple moving average is $36.38. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The stock has a market cap of $516.37 million, a price-to-earnings ratio of -2.16 and a beta of 1.17.

Summit Midstream (NYSE:SMC - Get Free Report) last posted 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 quarter in the previous year, the business earned ($2.12) earnings per share.

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.