Summit Midstream Corporation (NYSE:SMC) CEO Sells $35,180.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction on Monday, December 16th. The shares were sold at an average price of $35.18, for a total transaction of $35,180.00. Following the completion of the sale, the chief executive officer now owns 267,006 shares of the company’s stock, valued at $9,393,271.08. This represents a 0.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $35,180.00.
• On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.95, for a total transaction of $35,950.00.
• On Wednesday, December 11th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.09, for a total transaction of $37,090.00.
• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.22, for a total value of $37,220.00.
• On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.78, for a total value of $37,780.00.
• On Wednesday, December 4th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.43, for a total value of $37,430.00.
• On Monday, December 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.80, for a total transaction of $37,800.00.
• On Friday, November 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.20, for a total transaction of $37,200.00.
• On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.85, for a total transaction of $36,850.00.
• On Monday, November 25th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.16, for a total transaction of $37,160.00.

Summit Midstream Stock Performance

SMC stock opened at $34.81 on Thursday. 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’s 50-day moving average is $35.96. The firm has a market cap of $370.69 million, a P/E ratio of -2.72 and a beta of 2.39. Summit Midstream Corporation has a 52-week low of $15.56 and a 52-week high of $40.75.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Virtus Fund Advisers LLC purchased a new position in Summit Midstream during the third quarter worth about $3,794,000. Geode Capital Management LLC bought a new position in shares of Summit Midstream during the 3rd quarter worth approximately $3,313,000. Fractal Investments LLC purchased a new position in shares of Summit Midstream in the 3rd quarter worth approximately $1,576,000. Pekin Hardy Strauss Inc. bought a new position in shares of Summit Midstream in the third quarter valued at approximately $1,311,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Summit Midstream during the third quarter valued at approximately $529,000. 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.