Summit Midstream Partners LP (SMLP) Insider Sells $50,550.00 in Stock
Summit Midstream Partners LP (NYSE:SMLP) insider Brock M. Degeyter sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $16.85, for a total value of $50,550.00. Following the sale, the insider now directly owns 54,744 shares in the company, valued at $922,436.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NYSE SMLP opened at $16.90 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22. Summit Midstream Partners LP has a 1-year low of $13.10 and a 1-year high of $22.95. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 10.30 and a beta of 1.93.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Tuesday, August 7th were paid a dividend of $0.575 per share. The ex-dividend date was Monday, August 6th. This represents a $2.30 annualized dividend and a yield of 13.61%. Summit Midstream Partners’s payout ratio is currently 140.24%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Centaurus Financial Inc. purchased a new position in shares of Summit Midstream Partners during the second quarter valued at approximately $101,000. Tower Research Capital LLC TRC purchased a new position in shares of Summit Midstream Partners during the second quarter valued at approximately $136,000. BNP Paribas Arbitrage SA boosted its position in shares of Summit Midstream Partners by 46.5% during the first quarter. BNP Paribas Arbitrage SA now owns 11,251 shares of the pipeline company’s stock valued at $158,000 after buying an additional 3,569 shares during the period. Koch Industries Inc. purchased a new position in shares of Summit Midstream Partners during the first quarter valued at approximately $167,000. Finally, Jane Street Group LLC purchased a new stake in shares of Summit Midstream Partners in the fourth quarter valued at approximately $204,000. 45.67% of the stock is currently owned by institutional investors.
Summit Midstream Partners Company Profile
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, treating, and processing services, as well as crude oil and produced water gathering services.
Further Reading: Earnings Per Share
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