BNP Paribas Financial Markets Takes Position in Summit Midstream Corporation (NYSE:SMC)

BNP Paribas Financial Markets purchased a new stake in Summit Midstream Corporation (NYSE:SMC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,500 shares of the company’s stock, valued at approximately $57,000.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Summit Midstream by 1,106.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock valued at $118,000 after buying an additional 2,854 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Summit Midstream during the 4th quarter worth about $159,000. EntryPoint Capital LLC purchased a new stake in Summit Midstream during the 4th quarter worth about $207,000. Quantbot Technologies LP purchased a new stake in Summit Midstream during the 4th quarter worth about $229,000. Finally, JPMorgan Chase & Co. purchased a new stake in Summit Midstream during the 4th quarter worth about $357,000. Hedge funds and other institutional investors own 42.97% of the company’s stock.

Summit Midstream Trading Up 3.3%

Summit Midstream stock opened at $25.97 on Tuesday. The stock has a market cap of $484.29 million, a PE ratio of -2.03 and a beta of 1.17. The stock has a 50-day moving average price of $28.65 and a 200 day moving average price of $35.46. Summit Midstream Corporation has a 52 week low of $25.00 and a 52 week high of $45.89. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Summit Midstream (NYSE:SMC) last posted its quarterly earnings data 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 period in the previous year, the firm posted ($2.12) EPS.

Insider Buying and Selling

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $39.23, for a total value of $39,230.00. Following the sale, the chief executive officer now directly owns 236,326 shares of the company’s stock, valued at approximately $9,271,068.98. This trade represents a 0.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 11,052 shares of company stock worth $414,586. 37.80% of the stock is owned by corporate insiders.

About Summit Midstream

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.