EntryPoint Capital LLC Invests $207,000 in Summit Midstream Corporation (NYSE:SMC)

EntryPoint Capital LLC acquired a new position in shares of Summit Midstream Corporation (NYSE:SMC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,478 shares of the company’s stock, valued at approximately $207,000. EntryPoint Capital LLC owned 0.05% of Summit Midstream as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SMC. SG Americas Securities LLC acquired a new stake in Summit Midstream during the 4th quarter worth about $159,000. Barclays PLC acquired a new position in shares of Summit Midstream during the 3rd quarter valued at $194,000. Jane Street Group LLC bought a new position in Summit Midstream during the third quarter worth $227,000. Quantbot Technologies LP acquired a new stake in Summit Midstream in the fourth quarter worth $229,000. Finally, AlphaQuest LLC bought a new stake in Summit Midstream in the fourth quarter valued at $363,000. Institutional investors own 42.97% of the company’s stock.

Summit Midstream Price Performance

SMC stock opened at $34.25 on Friday. 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 company’s 50-day moving average is $40.86 and its 200-day moving average is $37.84. The stock has a market capitalization of $638.50 million, a PE ratio of -2.67 and a beta of 2.28. Summit Midstream Corporation has a 1 year low of $31.81 and a 1 year high of $45.89.

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

Insiders Place Their Bets

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $37.49, for a total transaction of $37,490.00. Following the completion of the transaction, the chief executive officer now owns 256,006 shares in the company, valued at approximately $9,597,664.94. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 36,052 shares of company stock worth $1,444,816. Insiders own 5.30% of the company’s stock.

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.