Fractal Investments LLC Acquires New Holdings in Summit Midstream Corporation (NYSE:SMC)

Fractal Investments LLC purchased a new position in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,000 shares of the company's stock, valued at approximately $1,576,000. Summit Midstream accounts for about 0.3% of Fractal Investments LLC's portfolio, making the stock its 21st biggest holding. Fractal Investments LLC owned about 0.42% of Summit Midstream as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Valeo Financial Advisors LLC acquired a new position in Summit Midstream in the 3rd quarter valued at $529,000. Institutional investors own 42.97% of the company's stock.

Summit Midstream Stock Up 2.6 %

Shares of NYSE:SMC traded up $0.89 during trading on Wednesday, reaching $35.56. 57,906 shares of the company traded hands, compared to its average volume of 50,962. 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 52 week low of $15.56 and a 52 week high of $40.75. The company has a market capitalization of $378.68 million, a price-to-earnings ratio of 5.76 and a beta of 2.35. The business's 50 day moving average price is $35.76.

Summit Midstream (NYSE:SMC - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.86) earnings per share (EPS) for the quarter. The firm had revenue of $101.32 million for the quarter. Summit Midstream had a return on equity of 24.03% and a net margin of 20.89%.

Summit Midstream 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.