Balyasny Asset Management L.P. Makes New $229,000 Investment in Summit Midstream Corporation (NYSE:SMC)

Balyasny Asset Management L.P. bought a new position in shares of Summit Midstream Corporation (NYSE:SMC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,062 shares of the company’s stock, valued at approximately $229,000. Balyasny Asset Management L.P. owned about 0.06% of Summit Midstream at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SMC. BNP Paribas Financial Markets bought a new position in shares of Summit Midstream during the 4th quarter valued at about $57,000. Tower Research Capital LLC TRC lifted its holdings in shares of Summit Midstream by 1,106.2% during the 4th 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of Summit Midstream during the 4th quarter valued at about $159,000. Barclays PLC bought a new position in shares of Summit Midstream during the 3rd quarter valued at about $194,000. Finally, EntryPoint Capital LLC bought a new position in shares of Summit Midstream during the 4th quarter valued at about $207,000. Institutional investors own 42.97% of the company’s stock.

Summit Midstream Trading Down 2.1%

NYSE:SMC opened at $28.85 on Friday. Summit Midstream Corporation has a fifty-two week low of $25.00 and a fifty-two week high of $45.89. 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 $537.85 million, a PE ratio of -2.25 and a beta of 1.17. The business’s 50-day simple moving average is $30.92 and its 200-day simple moving average is $36.09.

Summit Midstream (NYSE:SMC) last released its quarterly earnings data on Friday, March 21st. The company reported ($2.40) earnings per share 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 posted ($2.12) EPS.

Insider Buying and Selling at Summit Midstream

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $34.67, for a total value of $34,670.00. Following the sale, the chief executive officer now owns 266,170 shares in the company, valued at approximately $9,228,113.90. The trade was a 0.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 17,052 shares of company stock worth $676,166. 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.