Summit Midstream (NYSE:SMC) Stock Price Down 2.3% - Time to Sell?

Shares of Summit Midstream Corporation (NYSE:SMC - Get Free Report) were down 2.3% during trading on Monday . The stock traded as low as $29.78 and last traded at $29.17. Approximately 457 shares changed hands during trading, a decline of 100% from the average daily volume of 104,519 shares. The stock had previously closed at $29.85.

Summit Midstream Price Performance

The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $524.67 million, a P/E ratio of -2.20 and a beta of 1.92. The firm's 50 day simple moving average is $33.42 and its two-hundred day simple moving average is $36.55.

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 negative net margin of 23.01% and a positive return on equity of 0.71%. During the same period in the previous year, the firm earned ($2.12) EPS.

Insider Buying and Selling

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $34.67, for a total value of $34,670.00. Following the transaction, the chief executive officer now owns 266,170 shares in the company, valued at approximately $9,228,113.90. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 23,052 shares of company stock valued at $934,086 over the last three months. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Summit Midstream

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in shares of Summit Midstream during the fourth quarter valued at approximately $57,000. Tower Research Capital LLC TRC raised its holdings in 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 worth $118,000 after purchasing an additional 2,854 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Summit Midstream by 18.9% in the 4th quarter. Cetera Investment Advisers now owns 21,856 shares of the company's stock worth $826,000 after purchasing an additional 3,472 shares during the period. Jane Street Group LLC boosted its stake in shares of Summit Midstream by 56.8% during the 4th quarter. Jane Street Group LLC now owns 10,163 shares of the company's stock valued at $384,000 after purchasing an additional 3,680 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Summit Midstream during the fourth quarter valued at about $159,000. Hedge funds and other institutional investors own 42.97% 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.