Summit Midstream Corporation (NYSE:SMC) CEO Sells $37,810.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $37.81, for a total transaction of $37,810.00. Following the sale, the chief executive officer now directly owns 254,006 shares of the company’s stock, valued at $9,603,966.86. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 shares were sold at an average price of $37.49, for a total value of $37,490.00.
• On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.52, for a total value of $36,520.00.
• 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 value of $34,940.00.
• On Friday, December 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 transaction 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 transaction of $35,180.00.
• On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.95, for a total value 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 value of $37,090.00.
• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.22, for a total value of $37,220.00.

Summit Midstream Price Performance

Summit Midstream stock traded down $0.06 during trading hours on Tuesday, hitting $37.81. 35,219 shares of the stock traded hands, compared to its average volume of 58,780. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. The firm’s 50 day moving average price is $36.21. The firm has a market capitalization of $402.64 million, a PE ratio of -2.95 and a beta of 2.37. Summit Midstream Corporation has a 1 year low of $15.56 and a 1 year high of $40.75.

Institutional Trading of Summit Midstream

Several large investors have recently added to or reduced their stakes in SMC. Virtus Fund Advisers LLC purchased a new stake in shares of Summit Midstream in the third quarter worth about $3,794,000. Geode Capital Management LLC purchased a new stake in shares of Summit Midstream in the third quarter worth about $3,313,000. Fractal Investments LLC purchased a new stake in shares of Summit Midstream in the third quarter worth about $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream in the 3rd quarter worth about $1,311,000. Finally, Valeo Financial Advisors LLC acquired a new position in Summit Midstream in the 3rd quarter worth about $529,000. Hedge funds and other institutional investors own 42.97% of the company’s stock.

Summit Midstream Company Profile

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.