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 firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.54, for a total transaction of $35,540.00. Following the completion of the sale, the chief executive officer now directly owns 286,006 shares of the company’s stock, valued at approximately $10,164,653.24. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 Price Performance

NYSE SMC traded down $0.11 during trading hours on Tuesday, reaching $36.03. 60,998 shares of the company’s stock traded hands, compared to its average volume of 50,960. Summit Midstream Corporation has a 52-week low of $15.56 and a 52-week high of $40.75. The company has a market cap of $383.72 million, a price-to-earnings ratio of -2.81 and a beta of 2.35. The business’s 50-day simple moving average is $35.56. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SMC. Virtus Fund Advisers LLC purchased a new position in Summit Midstream in the third quarter worth about $3,794,000. Geode Capital Management LLC purchased a new position in Summit Midstream in the third quarter worth about $3,313,000. Fractal Investments LLC purchased a new position in Summit Midstream in the third quarter worth about $1,576,000. Pekin Hardy Strauss Inc. purchased a new position in Summit Midstream in the third quarter worth about $1,311,000. Finally, Valeo Financial Advisors LLC purchased a new position in Summit Midstream in the third quarter worth about $529,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

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.