Summit Midstream (NYSE:SMC) Trading 4.8% Higher - Time to Buy?

Summit Midstream Corporation (NYSE:SMC - Get Free Report) was up 4.8% during trading on Tuesday . The company traded as high as $28.76 and last traded at $28.52. Approximately 22,266 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 85,165 shares. The stock had previously closed at $27.22.

Summit Midstream Stock Up 4.2 %

The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The business's fifty day moving average price is $36.49 and its 200 day moving average price is $37.07. The firm has a market capitalization of $541.00 million, a PE ratio of -2.27 and a beta of 1.92.

Summit Midstream (NYSE:SMC - Get Free Report) last posted its quarterly earnings data on Friday, March 21st. The company reported ($2.40) earnings per share for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. During the same period last year, the firm earned ($2.12) EPS.

Insider Transactions at Summit Midstream

In other news, CEO J Heath Deneke sold 1,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $34.67, for a total transaction of $34,670.00. Following the completion of the transaction, the chief executive officer now directly owns 266,170 shares of the company's stock, valued at approximately $9,228,113.90. This represents a 0.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 28,052 shares of company stock worth $1,142,176. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in Summit Midstream in the fourth quarter valued at $57,000. Tower Research Capital LLC TRC increased its holdings in shares of Summit Midstream by 1,106.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company's stock valued at $118,000 after purchasing an additional 2,854 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Summit Midstream in the fourth quarter valued at about $159,000. Barclays PLC purchased a new stake in Summit Midstream during the third quarter worth about $194,000. Finally, EntryPoint Capital LLC acquired a new position in Summit Midstream during the fourth quarter worth about $207,000. Institutional investors and hedge funds own 42.97% of the company's stock.

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.