9,461 Shares in Summit Midstream Corporation (NYSE:SMC) Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. acquired a new stake in Summit Midstream Corporation (NYSE:SMC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and 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 at the end of the most recent quarter.

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

Summit Midstream Trading Down 2.1 %

Shares of SMC opened at $27.25 on Friday. Summit Midstream Corporation has a 12-month low of $25.72 and a 12-month high of $45.89. The firm has a market capitalization of $508.00 million, a P/E ratio of -2.13 and a beta of 1.92. The firm has a 50-day moving average price of $33.69 and a 200 day moving average price of $36.60. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Summit Midstream (NYSE:SMC - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The company reported ($2.40) EPS 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 posted ($2.12) EPS.

Insider Buying and Selling at Summit Midstream

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $34.67, for a total transaction of $34,670.00. Following the completion of the sale, the chief executive officer now directly owns 266,170 shares in the company, valued at $9,228,113.90. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 23,052 shares of company stock worth $934,086 over the last quarter. 5.30% of the stock is currently owned by company 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.

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