Summit Midstream Corporation (NYSE:SMC) CEO Sells $40,880.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $40,880.00. Following the sale, the chief executive officer now directly owns 262,326 shares in the company, valued at approximately $10,723,886.88. This trade represents a 0.38 % 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 hyperlink.

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

• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.80, for a total transaction of $40,800.00.
• On Thursday, January 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.86, for a total transaction of $42,860.00.
• On Tuesday, January 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.06, for a total value of $42,060.00.
• On Friday, January 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.11, for a total value of $40,110.00.
• On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.98, for a total value of $37,980.00.
• On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.63, for a total transaction of $37,630.00.
• On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.60, for a total transaction of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.50, for a total transaction of $37,500.00.
• On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.81, for a total transaction of $37,810.00.
• 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.

Summit Midstream Stock Performance

Shares of NYSE SMC opened at $41.46 on Friday. The business has a 50-day simple moving average of $37.79. Summit Midstream Corporation has a twelve month low of $15.56 and a twelve month high of $43.99. 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 (NYSE:SMC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($15.28) earnings per share for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. The company had revenue of $102.42 million during the quarter.

Institutional Trading of Summit Midstream

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Summit Midstream in the fourth quarter worth $159,000. Barclays PLC bought a new stake in Summit Midstream during the third quarter worth about $194,000. Jane Street Group LLC purchased a new position in shares of Summit Midstream in the 3rd quarter worth about $227,000. Valeo Financial Advisors LLC purchased a new position in shares of Summit Midstream in the 3rd quarter worth about $529,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Summit Midstream during the 3rd quarter valued at about $1,311,000. Hedge funds and other 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.