Alps Advisors Inc. Buys New Shares in Summit Midstream Partners, LP (NYSE:SMC)

Alps Advisors Inc. bought a new position in Summit Midstream Partners, LP (NYSE:SMC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,235 shares of the company's stock, valued at approximately $1,160,000. Alps Advisors Inc. owned 0.18% of Summit Midstream Partners at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Summit Midstream Partners in the 4th quarter valued at $229,000. American Century Companies Inc. bought a new position in Summit Midstream Partners during the 4th quarter worth $410,000. EntryPoint Capital LLC acquired a new position in Summit Midstream Partners in the fourth quarter valued at about $207,000. JPMorgan Chase & Co. bought a new stake in shares of Summit Midstream Partners during the 4th quarter worth approximately $357,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Summit Midstream Partners in the 4th quarter valued at $3,829,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Summit Midstream Partners from a "hold" rating to a "sell" rating in a report on Saturday, July 5th.

Summit Midstream Partners Stock Up 1.3%

NYSE SMC traded up $0.33 on Monday, hitting $24.77. The company's stock had a trading volume of 76,762 shares, compared to its average volume of 104,675. The firm has a market cap of $461.87 million, a PE ratio of -1.89 and a beta of 1.10. Summit Midstream Partners, LP has a 1-year low of $23.53 and a 1-year high of $45.89. The company's 50-day moving average is $26.23 and its 200 day moving average is $33.19.

Summit Midstream Partners 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.