Tower Research Capital LLC TRC Invests $48,000 in Summit Midstream Partners, LP (NYSE:SMLP)

Tower Research Capital LLC TRC acquired a new position in Summit Midstream Partners, LP (NYSE:SMLP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,660 shares of the pipeline company’s stock, valued at approximately $48,000.

Separately, Valeo Financial Advisors LLC acquired a new position in Summit Midstream Partners during the third quarter worth $209,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider James David Johnston sold 3,300 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $20.25, for a total transaction of $66,825.00. Following the transaction, the insider now directly owns 22,850 shares in the company, valued at $462,712.50. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 8,000 shares of company stock worth $179,459. Insiders own 5.30% of the company’s stock.

Summit Midstream Partners Stock Down 1.1 %

SMLP traded down $0.32 during trading on Tuesday, reaching $28.59. 15,049 shares of the stock were exchanged, compared to its average volume of 45,422. The stock has a market cap of $297.91 million, a P/E ratio of -4.67 and a beta of 2.33. Summit Midstream Partners, LP has a twelve month low of $13.00 and a twelve month high of $29.54. The stock’s 50 day moving average price is $24.33 and its two-hundred day moving average price is $20.22. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.73 and a current ratio of 0.73.

Summit Midstream Partners (NYSE:SMLP) last issued its earnings results on Friday, March 15th. The pipeline company reported ($1.29) earnings per share for the quarter. The firm had revenue of $127.32 million for the quarter. Summit Midstream Partners had a negative return on equity of 4.72% and a negative net margin of 8.49%.

About Summit Midstream Partners

Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, compression, treating, and processing services, as well as crude oil and produced water gathering and freshwater delivery services.