Summit Midstream Corporation (NYSE:SMC) CEO Sells $41,960.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $41.96, for a total value of $41,960.00. Following the completion of the transaction, the chief executive officer now directly owns 243,326 shares of the company’s stock, valued at $10,209,958.96. This represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, February 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.63, for a total value of $42,630.00.
• On Thursday, February 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.23, for a total value of $44,230.00.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.98, for a total value of $44,980.00.
• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 shares were 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 transaction 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 transaction of $42,670.00.
• On Wednesday, February 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 value 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 value of $41,490.00.

Summit Midstream Stock Performance

Shares of SMC stock opened at $42.23 on Thursday. Summit Midstream Corporation has a 52-week low of $17.26 and a 52-week high of $45.89. The stock has a 50-day moving average price of $40.33. 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 $449.72 million, a P/E ratio of -3.30 and a beta of 2.37.

Hedge Funds Weigh In On Summit Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fractal Investments LLC purchased a new stake in shares of Summit Midstream during the 3rd quarter worth approximately $1,576,000. Pekin Hardy Strauss Inc. bought a new position in shares of Summit Midstream during the 3rd quarter worth $1,311,000. Virtus Fund Advisers LLC bought a new stake in Summit Midstream in the 3rd quarter valued at about $3,794,000. Jane Street Group LLC purchased a new stake in shares of Summit Midstream during the 3rd quarter valued at approximately $227,000. Finally, Barclays PLC bought a new stake in Summit Midstream during the 3rd quarter valued at $194,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

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.