Summit Midstream Partners LP (NYSE:SMLP) insider Steven J. Newby purchased 15,000 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was bought at an average cost of $15.88 per share, for a total transaction of $238,200.00. Following the completion of the purchase, the insider now directly owns 38,812 shares in the company, valued at $616,334.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Summit Midstream Partners LP (NYSE SMLP) traded down $0.45 during mid-day trading on Monday, hitting $15.45. The stock had a trading volume of 501,524 shares, compared to its average volume of 227,058. The company has a market cap of $1,120.00, a price-to-earnings ratio of 14.90 and a beta of 1.79. Summit Midstream Partners LP has a 12-month low of $15.25 and a 12-month high of $24.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.96.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were given a $0.575 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 14.89%. Summit Midstream Partners’s dividend payout ratio is currently 223.30%.
Several hedge funds have recently modified their holdings of the company. Penbrook Management LLC bought a new stake in shares of Summit Midstream Partners in the 4th quarter worth approximately $646,000. Brookfield Asset Management Inc. bought a new stake in shares of Summit Midstream Partners in the 4th quarter worth approximately $29,625,000. Westwood Holdings Group Inc. grew its position in shares of Summit Midstream Partners by 1.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 417,558 shares of the pipeline company’s stock worth $8,560,000 after buying an additional 5,716 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Summit Midstream Partners by 60.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 128,855 shares of the pipeline company’s stock worth $2,642,000 after buying an additional 48,500 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Summit Midstream Partners in the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 50.37% of the company’s stock.
About Summit Midstream Partners
Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets. The Company’s segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P.
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