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Valeo Financial Advisors LLC Invests $529,000 in Summit Midstream Corporation (NYSE:SMC)

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Valeo Financial Advisors LLC purchased a new stake in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,093 shares of the company's stock, valued at approximately $529,000. Valeo Financial Advisors LLC owned 0.14% of Summit Midstream at the end of the most recent reporting period.

Summit Midstream Stock Performance

Shares of SMC traded down $0.76 on Tuesday, reaching $35.09. The company's stock had a trading volume of 57,888 shares, compared to its average volume of 49,848. 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 company has a market cap of $373.71 million, a price-to-earnings ratio of 5.69 and a beta of 2.35. Summit Midstream Corporation has a 12-month low of $15.56 and a 12-month high of $40.75.

Summit Midstream (NYSE:SMC - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.86) earnings per share for the quarter. The business 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 Company Profile

(Free Report)

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.

Further Reading

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