Fractal Investments LLC Makes New $1.58 Million Investment in Summit Midstream Corporation (NYSE:SMC)

Fractal Investments LLC purchased a new stake in shares of Summit Midstream Corporation (NYSE:SMC) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 45,000 shares of the company’s stock, valued at approximately $1,576,000. Summit Midstream comprises about 0.3% of Fractal Investments LLC’s investment portfolio, making the stock its 21st largest holding.

Separately, Valeo Financial Advisors LLC bought a new position in Summit Midstream during the 3rd quarter worth $529,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

Summit Midstream Trading Up 5.4 %

NYSE SMC opened at $34.67 on Wednesday. The company has a market cap of $369.24 million, a price-to-earnings ratio of 5.62 and a beta of 2.35. The company has a 50-day moving average of $35.76. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream Corporation has a 12 month low of $15.56 and a 12 month high of $40.75.

Summit Midstream (NYSE:SMC) last announced its earnings results on Thursday, August 8th. The company reported ($1.86) EPS for the quarter. Summit Midstream had a net margin of 20.89% and a return on equity of 24.03%. The company had revenue of $101.32 million during the quarter.

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.