Y Intercept Hong Kong Ltd Makes New Investment in Summit Midstream Partners, LP $SMC

Y Intercept Hong Kong Ltd purchased a new stake in Summit Midstream Partners, LP (NYSE:SMC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,331 shares of the company’s stock, valued at approximately $253,000.

Several other large investors also recently made changes to their positions in the stock. Alps Advisors Inc. acquired a new stake in shares of Summit Midstream Partners during the first quarter worth $1,160,000. Vanguard Group Inc. increased its holdings in Summit Midstream Partners by 51.6% during the 1st quarter. Vanguard Group Inc. now owns 687,064 shares of the company’s stock worth $23,285,000 after purchasing an additional 233,760 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of Summit Midstream Partners in the 1st quarter valued at about $1,193,000. Invesco Ltd. lifted its holdings in shares of Summit Midstream Partners by 0.4% in the first quarter. Invesco Ltd. now owns 957,026 shares of the company’s stock valued at $32,434,000 after purchasing an additional 3,674 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings in shares of Summit Midstream Partners by 154.5% in the first quarter. Eagle Global Advisors LLC now owns 188,266 shares of the company’s stock valued at $6,380,000 after purchasing an additional 114,304 shares in the last quarter. Institutional investors own 42.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SMC. Weiss Ratings reiterated a “sell (d)” rating on shares of Summit Midstream Partners in a report on Wednesday, October 8th. Wall Street Zen raised shares of Summit Midstream Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Summit Midstream Partners Stock Down 0.2%

SMC stock opened at $21.18 on Friday. The company has a market cap of $397.45 million, a price-to-earnings ratio of -1.06 and a beta of 1.14. Summit Midstream Partners, LP has a twelve month low of $19.13 and a twelve month high of $45.89. The business has a 50 day moving average price of $21.92 and a two-hundred day moving average price of $24.15.

Summit Midstream Partners (NYSE:SMC) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.66) earnings per share (EPS) for the quarter. The firm had revenue of $140.22 million during the quarter.

Summit Midstream Partners 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.