American Century Companies Inc. Makes New Investment in Summit Midstream Corporation (NYSE:SMC)

American Century Companies Inc. purchased a new stake in shares of Summit Midstream Corporation (NYSE:SMC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,847 shares of the company’s stock, valued at approximately $410,000. American Century Companies Inc. owned 0.10% of Summit Midstream at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SMC. SG Americas Securities LLC purchased a new position in Summit Midstream during the fourth quarter valued at approximately $159,000. Barclays PLC purchased a new position in shares of Summit Midstream during the 3rd quarter valued at $194,000. Jane Street Group LLC purchased a new position in shares of Summit Midstream during the 3rd quarter valued at $227,000. Quantbot Technologies LP acquired a new position in shares of Summit Midstream in the fourth quarter worth $229,000. Finally, AlphaQuest LLC purchased a new stake in shares of Summit Midstream during the fourth quarter worth $363,000. Hedge funds and other institutional investors own 42.97% of the company’s stock.

Summit Midstream Stock Performance

Shares of NYSE SMC opened at $26.44 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream Corporation has a one year low of $25.72 and a one year high of $45.89. The business’s 50-day moving average price is $38.01 and its two-hundred day moving average price is $37.31. The company has a market capitalization of $492.88 million, a P/E ratio of -2.06 and a beta of 1.92.

Summit Midstream (NYSE:SMC) last announced 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 period in the prior year, the firm posted ($2.12) earnings per share.

Insiders Place Their Bets

In related news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $34.67, for a total value 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 approximately $9,228,113.90. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 31,052 shares of company stock valued at $1,257,896 over the last ninety days. Corporate insiders own 5.30% 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.