EntryPoint Capital LLC Raises Stock Holdings in Summit Midstream Partners, LP $SMC

EntryPoint Capital LLC lifted its holdings in Summit Midstream Partners, LP (NYSE:SMC) by 141.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,253 shares of the company’s stock after purchasing an additional 7,775 shares during the period. EntryPoint Capital LLC’s holdings in Summit Midstream Partners were worth $449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of Summit Midstream Partners in the fourth quarter worth approximately $57,000. Tower Research Capital LLC TRC raised its holdings in shares of Summit Midstream Partners by 1,106.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock worth $118,000 after buying an additional 2,854 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Summit Midstream Partners in the fourth quarter worth approximately $229,000. Squarepoint Ops LLC purchased a new stake in shares of Summit Midstream Partners in the fourth quarter worth approximately $247,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Summit Midstream Partners in the fourth quarter worth approximately $354,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Tuesday.

Summit Midstream Partners Stock Down 2.8%

Shares of NYSE SMC opened at $19.28 on Thursday. The business has a fifty day simple moving average of $24.53 and a two-hundred day simple moving average of $30.30. The firm has a market cap of $359.57 million, a PE ratio of -1.47 and a beta of 1.19. Summit Midstream Partners, LP has a twelve month low of $19.23 and a twelve month high of $45.89.

Summit Midstream Partners (NYSE:SMC) last issued its earnings results on Monday, August 11th. The company reported ($0.66) earnings per share for the quarter. Summit Midstream Partners had a negative net margin of 26.34% and a negative return on equity of 1.51%. The firm had revenue of $140.22 million for the quarter.

Summit Midstream Partners 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.