81,023 Shares in Summit Midstream Corporation (NYSE:SMC) Acquired by Graham Capital Wealth Management LLC

Graham Capital Wealth Management LLC bought a new stake in shares of Summit Midstream Corporation (NYSE:SMC) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 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 portfolio, making the stock its 11th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in SMC. SG Americas Securities LLC bought a new stake in shares of Summit Midstream during the 4th quarter valued at $159,000. Barclays PLC acquired a new position in shares of Summit Midstream in the 3rd quarter valued at $194,000. Jane Street Group LLC acquired a new position in Summit Midstream in the 3rd quarter worth $227,000. Valeo Financial Advisors LLC acquired a new position in Summit Midstream in the 3rd quarter worth $529,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream in the 3rd quarter worth $1,311,000. Institutional investors own 42.97% of the company’s stock.

Summit Midstream Price Performance

Shares of NYSE:SMC opened at $41.51 on Monday. The business’s 50-day simple moving average is $37.98. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a one year low of $15.56 and a one year high of $43.99. The company has a market cap of $442.03 million, a PE ratio of -3.24 and a beta of 2.37.

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

Insiders Place Their Bets

In other news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $34.94, for a total transaction of $34,940.00. Following the completion of the transaction, the chief executive officer now owns 262,006 shares of the company’s stock, valued at approximately $9,154,489.64. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 30,000 shares of company stock worth $1,122,890 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

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.