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 Summit Midstream stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $44.23, for a total transaction of $44,230.00. Following the sale, the chief executive officer now owns 247,326 shares in the company, valued at approximately $10,939,228.98. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.98, for a total transaction of $44,980.00.
• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.20, for a total value of $44,200.00.
• On Wednesday, February 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.80, for a total value of $43,800.00.
• On Monday, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.43, for a total value of $43,430.00.
• On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.67, for a total value of $42,670.00.
• On Wednesday, February 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.78, for a total transaction of $42,780.00.
• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.04, for a total transaction of $41,040.00.
• On Friday, January 31st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.49, for a total transaction of $41,490.00.
• On Wednesday, January 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.88, for a total transaction of $40,880.00.
• 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 value of $40,800.00.

Summit Midstream Price Performance

SMC stock opened at $43.47 on Friday. 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 has a market cap of $462.90 million, a PE ratio of -3.39 and a beta of 2.37. The company’s fifty day simple moving average is $39.91. Summit Midstream Corporation has a fifty-two week low of $17.11 and a fifty-two week high of $45.89.

Institutional Trading of Summit Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in Summit Midstream during the 4th quarter worth about $247,000. OMERS ADMINISTRATION Corp bought a new position in shares of Summit Midstream in the fourth quarter worth about $382,000. Millennium Management LLC lifted its position in shares of Summit Midstream by 599.9% during the fourth quarter. Millennium Management LLC now owns 48,610 shares of the company’s stock worth $1,836,000 after purchasing an additional 41,665 shares in the last quarter. Eagle Global Advisors LLC grew its stake in shares of Summit Midstream by 131.7% during the fourth quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock valued at $2,794,000 after purchasing an additional 42,035 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Summit Midstream in the fourth quarter valued at approximately $354,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

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.