ARK & TLK Investments LLC Invests $2.75 Million in Summit Midstream Partners, LP $SMC

ARK & TLK Investments LLC purchased a new stake in Summit Midstream Partners, LP (NYSE:SMC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 112,084 shares of the company’s stock, valued at approximately $2,749,000. Summit Midstream Partners accounts for about 0.9% of ARK & TLK Investments LLC’s holdings, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Summit Midstream Partners by 0.4% during the first quarter. Invesco Ltd. now owns 957,026 shares of the company’s stock worth $32,434,000 after buying an additional 3,674 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Summit Midstream Partners by 51.6% during the 1st quarter. Vanguard Group Inc. now owns 687,064 shares of the company’s stock valued at $23,285,000 after acquiring an additional 233,760 shares in the last quarter. Geode Capital Management LLC boosted its position in Summit Midstream Partners by 138.5% during the 2nd quarter. Geode Capital Management LLC now owns 231,443 shares of the company’s stock worth $5,678,000 after purchasing an additional 134,388 shares during the period. Millennium Management LLC boosted its position in Summit Midstream Partners by 320.2% during the 1st quarter. Millennium Management LLC now owns 204,265 shares of the company’s stock worth $6,923,000 after purchasing an additional 155,655 shares during the period. Finally, Eagle Global Advisors LLC increased its holdings in Summit Midstream Partners by 3.7% in the 2nd quarter. Eagle Global Advisors LLC now owns 195,297 shares of the company’s stock valued at $4,791,000 after purchasing an additional 7,031 shares in the last quarter. 42.97% of the stock is owned by institutional investors and hedge funds.

Summit Midstream Partners Price Performance

Summit Midstream Partners stock opened at $25.17 on Tuesday. Summit Midstream Partners, LP has a 12-month low of $19.13 and a 12-month high of $45.89. The company has a market capitalization of $473.02 million, a price-to-earnings ratio of -1.38 and a beta of 0.87. The firm’s fifty day moving average price is $22.35 and its 200 day moving average price is $23.62.

Summit Midstream Partners (NYSE:SMC) last announced its earnings results on Monday, November 10th. The company reported ($0.13) earnings per share for the quarter. The firm had revenue of $146.88 million during the quarter.

Analyst Ratings Changes

A number of brokerages have commented on SMC. Weiss Ratings restated a “sell (d-)” rating on shares of Summit Midstream Partners in a research note on Monday, November 24th. Wall Street Zen upgraded Summit Midstream Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 19th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.