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 dated Wednesday, January 15th. The stock was sold at an average price of $37.98, for a total transaction of $37,980.00. Following the completion of the transaction, the chief executive officer now owns 248,006 shares in the company, valued at $9,419,267.88. This represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.63, for a total value 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 value of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.50, for a total value of $37,500.00.
• On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.81, for a total value of $37,810.00.
• 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 transaction 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 transaction 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 transaction 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 value 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.

Summit Midstream Stock Performance

SMC traded up $0.33 on Thursday, hitting $38.33. The company had a trading volume of 139,600 shares, compared to its average volume of 79,550. The stock has a market cap of $408.24 million, a PE ratio of -2.99 and a beta of 2.37. 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 company has a fifty day simple moving average of $36.67. Summit Midstream Corporation has a 12-month low of $15.56 and a 12-month high of $40.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC purchased a new position in Summit Midstream in the third quarter worth $194,000. Jane Street Group LLC acquired a new stake in Summit Midstream in the third quarter worth about $227,000. Valeo Financial Advisors LLC purchased a new stake in shares of Summit Midstream during the third quarter worth about $529,000. Pekin Hardy Strauss Inc. purchased a new position in shares of Summit Midstream in the 3rd quarter valued at approximately $1,311,000. Finally, Fractal Investments LLC purchased a new stake in Summit Midstream during the 3rd quarter worth approximately $1,576,000. 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.