OMERS ADMINISTRATION Corp Purchases New Stake in Summit Midstream Corporation (NYSE:SMC)

OMERS ADMINISTRATION Corp acquired a new position in shares of Summit Midstream Corporation (NYSE:SMC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,100 shares of the company’s stock, valued at approximately $382,000. OMERS ADMINISTRATION Corp owned about 0.09% of Summit Midstream as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in SMC. BNP Paribas Financial Markets bought a new position in shares of Summit Midstream during the 4th quarter valued at approximately $57,000. Tower Research Capital LLC TRC lifted its stake in Summit Midstream by 1,106.2% in the fourth 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 during the last quarter. Cetera Investment Advisers grew its holdings in Summit Midstream by 18.9% during the fourth quarter. Cetera Investment Advisers now owns 21,856 shares of the company’s stock valued at $826,000 after purchasing an additional 3,472 shares during the period. Jane Street Group LLC increased its position in Summit Midstream by 56.8% in the fourth quarter. Jane Street Group LLC now owns 10,163 shares of the company’s stock worth $384,000 after buying an additional 3,680 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Summit Midstream in the fourth quarter valued at $159,000. Institutional investors own 42.97% of the company’s stock.

Insider Activity

In related news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $42.63, for a total value of $42,630.00. Following the completion of the transaction, the chief executive officer now directly owns 245,326 shares of the company’s stock, valued at approximately $10,458,247.38. This trade represents a 0.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 16,052 shares of company stock valued at $631,186 over the last quarter. Company insiders own 37.80% of the company’s stock.

Summit Midstream Stock Down 3.2%

Shares of NYSE SMC opened at $27.90 on Tuesday. 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 stock has a market capitalization of $520.20 million, a PE ratio of -2.18 and a beta of 1.17. Summit Midstream Corporation has a one year low of $25.00 and a one year high of $45.89. The business’s fifty day moving average price is $30.72 and its 200-day moving average price is $36.06.

Summit Midstream (NYSE:SMC) last announced its quarterly earnings data on Friday, March 21st. The company reported ($2.40) 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%. During the same period in the prior year, the firm earned ($2.12) earnings per share.

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.