Graham Capital Wealth Management LLC Makes New Investment in Summit Midstream Corporation (NYSE:SMC)

Graham Capital Wealth Management LLC acquired a new position in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 81,023 shares of the company's stock, valued at approximately $3,061,000. Summit Midstream comprises approximately 2.8% of Graham Capital Wealth Management LLC's holdings, making the stock its 11th largest holding. Graham Capital Wealth Management LLC owned about 0.76% of Summit Midstream as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Summit Midstream during the fourth quarter worth about $159,000. Barclays PLC bought a new position in Summit Midstream during the third quarter worth about $194,000. Jane Street Group LLC bought a new position in Summit Midstream during the third quarter worth about $227,000. Valeo Financial Advisors LLC bought a new position in Summit Midstream during the third quarter worth about $529,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Summit Midstream in the third quarter worth about $1,311,000. Hedge funds and other institutional investors own 42.97% of the company's stock.

Insider Transactions at Summit Midstream

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.54, for a total transaction of $35,540.00. Following the completion of the sale, the chief executive officer now directly owns 286,006 shares in the company, valued at $10,164,653.24. The trade was a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 32,000 shares of company stock valued at $1,205,420. 5.30% of the stock is currently owned by corporate insiders.

Summit Midstream Trading Up 1.7 %

Shares of Summit Midstream stock traded up $0.74 on Thursday, reaching $43.75. The stock had a trading volume of 81,998 shares, compared to its average volume of 78,675. Summit Midstream Corporation has a 1 year low of $15.76 and a 1 year high of $43.99. The stock has a market capitalization of $465.94 million, a P/E ratio of -3.42 and a beta of 2.37. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The stock's 50 day moving average price is $38.28.

Summit Midstream (NYSE:SMC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($15.28) earnings per share (EPS) for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. The firm had revenue of $102.42 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.