Magnetar Financial LLC Buys Shares of 10,162 Summit Midstream Partners, LP $SMC

Magnetar Financial LLC purchased a new position in Summit Midstream Partners, LP (NYSE:SMC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,162 shares of the company’s stock, valued at approximately $249,000. Magnetar Financial LLC owned about 0.05% of Summit Midstream Partners at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SMC. Police & Firemen s Retirement System of New Jersey acquired a new position in Summit Midstream Partners in the 2nd quarter valued at $56,000. Empowered Funds LLC grew its holdings in shares of Summit Midstream Partners by 5.4% during the first quarter. Empowered Funds LLC now owns 59,481 shares of the company’s stock worth $2,016,000 after buying an additional 3,041 shares in the last quarter. Invesco Ltd. raised its position 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 buying an additional 3,674 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Summit Midstream Partners by 87.9% in the first quarter. Quantbot Technologies LP now owns 11,377 shares of the company’s stock worth $386,000 after buying an additional 5,322 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Summit Midstream Partners by 55.2% during the first quarter. American Century Companies Inc. now owns 16,836 shares of the company’s stock worth $571,000 after acquiring an additional 5,989 shares during the last quarter. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

Summit Midstream Partners Price Performance

Shares of SMC stock opened at $25.19 on Thursday. The company has a market capitalization of $473.23 million, a PE ratio of -1.38 and a beta of 1.14. The firm’s 50-day moving average is $22.18 and its two-hundred day moving average is $23.75. Summit Midstream Partners, LP has a 12 month low of $19.13 and a 12 month high of $45.89.

Summit Midstream Partners (NYSE:SMC) last posted its quarterly 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 for the quarter.

Analysts Set New Price Targets

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

About Summit Midstream Partners

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.