Pekin Hardy Strauss Inc. Invests $232,000 in Summit Midstream Partners, LP (NYSE:SMLP)

Pekin Hardy Strauss Inc. acquired a new stake in Summit Midstream Partners, LP (NYSE:SMLP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,950 shares of the pipeline company’s stock, valued at approximately $232,000. Pekin Hardy Strauss Inc. owned approximately 0.12% of Summit Midstream Partners as of its most recent filing with the Securities and Exchange Commission.

Separately, Valeo Financial Advisors LLC acquired a new stake in shares of Summit Midstream Partners in the third quarter valued at about $209,000. 42.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Summit Midstream Partners

In other Summit Midstream Partners news, insider James David Johnston sold 3,400 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $25.21, for a total value of $85,714.00. Following the transaction, the insider now directly owns 48,201 shares in the company, valued at approximately $1,215,147.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 8,000 shares of company stock worth $179,459 in the last quarter. Company insiders own 5.30% of the company’s stock.

Summit Midstream Partners Price Performance

SMLP opened at $27.64 on Thursday. Summit Midstream Partners, LP has a twelve month low of $13.00 and a twelve month high of $29.54. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50-day moving average price is $24.53 and its 200 day moving average price is $20.27.

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

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.