Valeo Financial Advisors LLC Takes $529,000 Position in Summit Midstream Corporation (NYSE:SMC)

Valeo Financial Advisors LLC acquired a new position in shares of Summit Midstream Corporation (NYSE:SMC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 15,093 shares of the company’s stock, valued at approximately $529,000.

Summit Midstream Trading Down 0.7 %

Summit Midstream stock opened at $35.91 on Tuesday. Summit Midstream Corporation has a 12 month low of $15.56 and a 12 month high of $40.75. The stock has a market capitalization of $382.44 million, a price-to-earnings ratio of 5.82 and a beta of 2.35. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20.

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

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.