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 on Friday, March 21st. The stock was sold at an average price of $36.30, for a total transaction of $36,300.00. Following the completion of the transaction, the chief executive officer now directly owns 271,170 shares of the company’s stock, valued at approximately $9,843,471. This represents a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, March 19th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.68, for a total value of $37,680.00.
• On Monday, March 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.50, for a total transaction of $38,500.00.
• On Friday, March 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.47, for a total transaction 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 shares were 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 stock was 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 value of $43,500.00.
• On Friday, February 28th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.28, for a total value of $44,280.00.
• On Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.96, for a total transaction of $41,960.00.

Summit Midstream Price Performance

Shares of Summit Midstream stock opened at $36.18 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 business has a 50 day simple moving average of $41.18 and a two-hundred day simple moving average of $37.91. The stock has a market capitalization of $385.23 million, a P/E ratio of -2.82 and a beta of 2.28. Summit Midstream Corporation has a 12 month low of $31.81 and a 12 month high of $45.89.

Summit Midstream (NYSE:SMC) last posted its quarterly earnings results on Friday, March 21st. The company reported ($2.40) earnings per share 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 quarter last year, the business earned ($2.12) EPS.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in Summit Midstream in the fourth quarter valued at approximately $57,000. Tower Research Capital LLC TRC grew its stake in shares of Summit Midstream by 1,106.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock valued at $118,000 after buying an additional 2,854 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Summit Midstream in the 4th quarter valued at $159,000. Barclays PLC acquired a new position in Summit Midstream during the 3rd quarter worth about $194,000. Finally, EntryPoint Capital LLC purchased a new position in Summit Midstream during the 4th quarter valued at about $207,000. 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.