Graham Capital Wealth Management LLC Takes $3.06 Million Position in Summit Midstream Corporation (NYSE:SMC)

Graham Capital Wealth Management LLC bought a new position in shares of Summit Midstream Corporation (NYSE:SMC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 81,023 shares of the company’s stock, valued at approximately $3,061,000. Summit Midstream makes up approximately 2.8% of Graham Capital Wealth Management LLC’s portfolio, making the stock its 11th largest position. Graham Capital Wealth Management LLC owned about 0.76% of Summit Midstream at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Summit Midstream during the 4th quarter worth approximately $159,000. Barclays PLC purchased a new position in Summit Midstream in the 3rd quarter valued at approximately $194,000. Geode Capital Management LLC purchased a new position in Summit Midstream in the 3rd quarter valued at approximately $3,313,000. Jane Street Group LLC purchased a new position in Summit Midstream in the 3rd quarter valued at approximately $227,000. Finally, Virtus Fund Advisers LLC purchased a new position in Summit Midstream during the third quarter worth $3,794,000. Hedge funds and other institutional investors own 42.97% of the company’s stock.

Summit Midstream Stock Performance

Summit Midstream stock opened at $41.51 on Monday. 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 is $37.98. The stock has a market capitalization of $442.03 million, a P/E ratio of -3.24 and a beta of 2.37. Summit Midstream Corporation has a fifty-two week low of $15.56 and a fifty-two week high of $43.99.

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

Insider Activity at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.54, for a total value of $35,540.00. Following the sale, the chief executive officer now directly owns 286,006 shares in the company, valued at $10,164,653.24. This trade represents a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 30,000 shares of company stock valued at $1,122,890 over the last three months. 5.30% of the stock is owned by insiders.

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.