J Heath Deneke Sells 1,000 Shares of Summit Midstream Corporation (NYSE:SMC) Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $43.80, for a total value of $43,800.00. Following the completion of the transaction, the chief executive officer now owns 252,326 shares in the company, valued at $11,051,878.80. This represents a 0.39 % decrease in their position. The transaction 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, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 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 value 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 shares were 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.
• On Thursday, January 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.86, for a total value of $42,860.00.
• On Tuesday, January 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.06, for a total value of $42,060.00.
• On Friday, January 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.11, for a total value of $40,110.00.

Summit Midstream Price Performance

Shares of NYSE:SMC traded up $0.05 during trading on Wednesday, hitting $43.94. 99,695 shares of the company’s stock were exchanged, compared to its average volume of 78,064. The firm has a 50-day moving average of $38.73. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. Summit Midstream Corporation has a 52-week low of $15.76 and a 52-week high of $44.67. The firm has a market capitalization of $467.93 million, a P/E ratio of -3.43 and a beta of 2.37.

Summit Midstream (NYSE:SMC) last released its earnings results on Tuesday, November 12th. The company reported ($15.28) EPS for the quarter. The company had revenue of $102.42 million during the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMC. Virtus Fund Advisers LLC purchased a new position in Summit Midstream during the 3rd quarter valued at approximately $3,794,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Summit Midstream in the 4th quarter worth about $3,829,000. Geode Capital Management LLC purchased a new position in shares of Summit Midstream during the 3rd quarter worth about $3,313,000. Graham Capital Wealth Management LLC bought a new position in Summit Midstream during the 4th quarter valued at about $3,061,000. Finally, Rangeley Capital LLC purchased a new stake in Summit Midstream in the 4th quarter worth about $2,183,000. 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.