Eagle Global Advisors LLC Grows Holdings in Summit Midstream Corporation (NYSE:SMC)

Eagle Global Advisors LLC grew its position in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) by 131.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,962 shares of the company's stock after purchasing an additional 42,035 shares during the period. Eagle Global Advisors LLC owned approximately 0.69% of Summit Midstream worth $2,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in Summit Midstream during the 4th quarter worth approximately $57,000. Tower Research Capital LLC TRC boosted its position in shares of Summit Midstream by 1,106.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company's stock valued at $118,000 after purchasing an additional 2,854 shares during the period. SG Americas Securities LLC purchased a new stake in Summit Midstream in the 4th quarter valued at $159,000. EntryPoint Capital LLC acquired a new stake in shares of Summit Midstream during the fourth quarter worth about $207,000. Finally, Barclays PLC purchased a new stake in shares of Summit Midstream during the third quarter worth approximately $194,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

Summit Midstream Stock Performance

Shares of NYSE:SMC traded up $0.19 during midday trading on Monday, hitting $28.53. The stock had a trading volume of 27,618 shares, compared to its average volume of 83,374. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average price of $31.91 and a two-hundred day moving average price of $36.30. Summit Midstream Corporation has a 1 year low of $25.00 and a 1 year high of $45.89. The company has a market capitalization of $531.96 million, a PE ratio of -2.24 and a beta of 1.17.

Summit Midstream (NYSE:SMC - Get Free Report) last issued its earnings results on Friday, March 21st. The company reported ($2.40) earnings per share 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 last year, the business earned ($2.12) EPS.

Insider Buying and Selling

In related news, CEO J Heath Deneke sold 1,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $44.20, for a total transaction of $44,200.00. Following the sale, the chief executive officer now owns 250,326 shares of the company's stock, valued at $11,064,409.20. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 19,052 shares of company stock worth $764,166 in the last three months. Corporate 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.