AlphaQuest LLC Makes New $363,000 Investment in Summit Midstream Corporation (NYSE:SMC)

AlphaQuest LLC purchased a new stake in Summit Midstream Corporation (NYSE:SMC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,613 shares of the company's stock, valued at approximately $363,000. AlphaQuest LLC owned 0.09% of Summit Midstream at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SMC. Barclays PLC acquired a new stake in Summit Midstream in the 3rd quarter valued at approximately $194,000. Graham Capital Wealth Management LLC bought a new position in shares of Summit Midstream during the 4th quarter worth approximately $3,061,000. Virtus Fund Advisers LLC acquired a new stake in shares of Summit Midstream in the third quarter valued at approximately $3,794,000. Jane Street Group LLC acquired a new position in Summit Midstream during the third quarter worth $227,000. Finally, Empowered Funds LLC bought a new position in Summit Midstream in the fourth quarter valued at $2,132,000. 42.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.97, for a total transaction of $34,970.00. Following the transaction, the chief executive officer now directly owns 263,006 shares in the company, valued at approximately $9,197,319.82. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 34,000 shares of company stock worth $1,365,320 in the last 90 days. Corporate insiders own 5.30% of the company's stock.

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Summit Midstream Stock Up 3.6 %

NYSE:SMC traded up $1.36 on Monday, hitting $38.80. 111,673 shares of the company's stock were exchanged, compared to its average volume of 73,167. The firm has a 50-day moving average price of $41.19 and a 200-day moving average price of $37.90. Summit Midstream Corporation has a 52 week low of $31.81 and a 52 week high of $45.89. 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 company has a market cap of $413.13 million, a P/E ratio of -3.03 and a beta of 2.28.

Summit Midstream (NYSE:SMC - Get Free Report) last released its earnings results on Monday, March 10th. The company reported ($2.19) 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%. The company had revenue of $107.02 million during the quarter.

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.