Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke Sells 1,000 Shares

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.74, for a total transaction of $35,740.00. Following the completion of the transaction, the chief executive officer now owns 282,006 shares in the company, valued at approximately $10,078,894.44. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

J Heath Deneke also recently made the following trade(s):

• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.82, for a total transaction of $35,820.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.54, for a total transaction of $35,540.00.
• On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total transaction of $35,610.00.

Summit Midstream Stock Performance

SMC stock opened at $37.35 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. The company has a 50-day simple moving average of $35.54. Summit Midstream Corporation has a 52 week low of $15.56 and a 52 week high of $40.75.

Hedge Funds Weigh In On Summit Midstream

Several institutional investors and hedge funds have recently modified their holdings of SMC. Barclays PLC acquired a new stake in Summit Midstream during the third quarter worth about $194,000. Geode Capital Management LLC acquired a new stake in Summit Midstream during the third quarter worth about $3,313,000. Jane Street Group LLC acquired a new stake in Summit Midstream during the third quarter worth about $227,000. Virtus Fund Advisers LLC acquired a new stake in Summit Midstream during the third quarter worth about $3,794,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in Summit Midstream during the third quarter worth about $1,311,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

About Summit Midstream

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.