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 stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $36.52, for a total transaction of $36,520.00. Following the sale, the chief executive officer now owns 258,006 shares in the company, valued at approximately $9,422,379.12. This trade represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.49, for a total value of $37,490.00.
• On Thursday, December 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.19, for a total value of $36,190.00.
• On Monday, December 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $34.94, for a total transaction of $34,940.00.
• On Friday, December 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $34.97, for a total transaction of $34,970.00.
• On Wednesday, December 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.18, for a total value of $35,180.00.
• On Monday, December 16th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.18, for a total value of $35,180.00.
• On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.95, for a total transaction of $35,950.00.
• On Wednesday, December 11th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.09, for a total transaction of $37,090.00.
• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.22, for a total transaction of $37,220.00.
• On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.78, for a total transaction of $37,780.00.

Summit Midstream Price Performance

Summit Midstream stock traded up $0.03 during midday trading on Thursday, hitting $37.81. 46,724 shares of the stock were exchanged, compared to its average volume of 53,557. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. Summit Midstream Corporation has a 1 year low of $15.56 and a 1 year high of $40.75. The company has a 50 day simple moving average of $36.09. The stock has a market cap of $402.64 million, a price-to-earnings ratio of -2.95 and a beta of 2.39.

Institutional Investors Weigh In On Summit Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in Summit Midstream during the 3rd quarter worth $194,000. Jane Street Group LLC acquired a new stake in shares of Summit Midstream in the 3rd quarter valued at $227,000. Valeo Financial Advisors LLC acquired a new stake in shares of Summit Midstream during the third quarter worth approximately $529,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Summit Midstream during the third quarter worth $1,311,000. Finally, Fractal Investments LLC bought a new position in Summit Midstream in the 3rd quarter valued at $1,576,000. Institutional investors own 42.97% of the company’s stock.

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.