Summit Midstream Corporation (NYSE:SMC) Shares Bought by Eagle Global Advisors LLC

Eagle Global Advisors LLC lifted its holdings in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) by 131.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,962 shares of the company's stock after buying an additional 42,035 shares during the period. Eagle Global Advisors LLC owned approximately 0.69% of Summit Midstream worth $2,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in Summit Midstream during the 4th quarter worth $3,829,000. Geode Capital Management LLC acquired a new stake in Summit Midstream in the third quarter worth about $3,313,000. Graham Capital Wealth Management LLC bought a new position in Summit Midstream in the 4th quarter valued at about $3,061,000. Bridgeway Capital Management LLC acquired a new position in Summit Midstream during the 4th quarter valued at about $2,321,000. Finally, Rangeley Capital LLC bought a new stake in shares of Summit Midstream during the 4th quarter worth about $2,183,000. 42.97% of the stock is owned by institutional investors.

Summit Midstream Stock Down 2.6 %

SMC opened at $26.65 on Wednesday. The stock's fifty day moving average is $32.81 and its 200-day moving average is $36.44. Summit Midstream Corporation has a one year low of $25.72 and a one year high of $45.89. The company has a market capitalization of $496.89 million, a PE ratio of -2.08 and a beta of 1.17. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33.

Summit Midstream (NYSE:SMC - Get Free Report) last issued its quarterly earnings results on Friday, March 21st. The company reported ($2.40) EPS for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. During the same quarter in the prior year, the firm earned ($2.12) earnings per share.

Insider Activity at Summit Midstream

In other news, CEO J Heath Deneke sold 1,000 shares of the company's stock in a transaction on Friday, March 28th. The stock was 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 of the company's stock, valued at $9,228,113.90. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 21,052 shares of company stock valued at $850,266 over the last ninety days. Insiders own 37.80% 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.

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