Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $36.32, for a total value of $36,320.00. Following the sale, the chief executive officer now directly owns 270,170 shares of the company’s stock, valued at $9,812,574.40. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, March 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.33, for a total transaction of $35,330.00.
• On Friday, March 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.30, for a total transaction of $36,300.00.
• On Wednesday, March 19th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.68, for a total transaction of $37,680.00.
• On Monday, March 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $38.50, for a total value of $38,500.00.
• On Friday, March 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.47, for a total value of $37,470.00.
• On Wednesday, March 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.04, for a total value of $38,040.00.
• On Monday, March 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.52, for a total value of $38,520.00.
• On Friday, March 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $39.23, for a total transaction of $39,230.00.
• On Wednesday, March 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.55, for a total transaction of $40,550.00.
• On Monday, March 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.50, for a total transaction of $43,500.00.

Summit Midstream Stock Performance

NYSE:SMC opened at $35.34 on Thursday. Summit Midstream Corporation has a 52 week low of $31.81 and a 52 week high of $45.89. The company has a fifty day simple moving average of $41.06 and a two-hundred day simple moving average of $37.89. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The company has a market cap of $658.99 million, a price-to-earnings ratio of -2.76 and a beta of 2.28.

Summit Midstream (NYSE:SMC) last released its earnings results on Friday, March 21st. The company reported ($2.40) EPS for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. During the same period last year, the firm earned ($2.12) EPS.

Hedge Funds Weigh In On Summit Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in SMC. Virtus Fund Advisers LLC acquired a new stake in Summit Midstream in the third quarter valued at approximately $3,794,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Summit Midstream in the 4th quarter valued at $3,829,000. Geode Capital Management LLC acquired a new stake in shares of Summit Midstream in the 3rd quarter valued at $3,313,000. Graham Capital Wealth Management LLC purchased a new stake in shares of Summit Midstream during the 4th quarter worth $3,061,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Summit Midstream during the fourth quarter worth $2,321,000. 42.97% of the stock is owned by institutional investors and hedge funds.

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.