EntryPoint Capital LLC Makes New $207,000 Investment in Summit Midstream Corporation (NYSE:SMC)

EntryPoint Capital LLC bought a new stake in Summit Midstream Corporation (NYSE:SMC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,478 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. purchased a new position in Summit Midstream in the fourth quarter worth $410,000. Quantbot Technologies LP purchased a new position in shares of Summit Midstream in the 4th quarter worth about $229,000. AlphaQuest LLC bought a new position in Summit Midstream during the fourth quarter valued at about $363,000. Empowered Funds LLC purchased a new stake in Summit Midstream during the fourth quarter worth about $2,132,000. Finally, Graham Capital Wealth Management LLC bought a new stake in Summit Midstream in the fourth quarter worth about $3,061,000. 42.97% of the stock is owned by institutional investors.

Summit Midstream Stock Down 3.4 %

Summit Midstream stock opened at $34.25 on Friday. The firm has a 50 day moving average price of $40.86 and a 200-day moving average price of $37.84. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a twelve month low of $31.81 and a twelve month high of $45.89. The company has a market capitalization of $638.50 million, a P/E ratio of -2.67 and a beta of 2.28.

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

Insiders Place Their Bets

In other news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $34.67, for a total value of $34,670.00. Following the sale, the chief executive officer now owns 266,170 shares of the company’s stock, valued at $9,228,113.90. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 36,052 shares of company stock worth $1,444,816 over the last quarter. 5.30% of the stock is currently owned by company insiders.

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.