Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke Sells 1,000 Shares of 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 Monday, March 24th. The stock was sold at an average price of $36.32, for a total value of $36,320.00. Following the transaction, the chief executive officer now directly owns 270,170 shares of the company’s stock, valued at approximately $9,812,574.40. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, March 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.33, for a total transaction of $35,330.00.
• On Friday, March 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.30, for a total transaction of $36,300.00.
• 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 transaction 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 stock was sold at an average price of $37.47, for a total value 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 stock was 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 value 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 transaction of $43,500.00.

Summit Midstream Stock Performance

SMC opened at $35.34 on Thursday. The firm has a market capitalization of $658.99 million, a PE ratio of -2.76 and a beta of 2.28. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a twelve month low of $31.81 and a twelve month high of $45.89. The firm’s 50-day moving average price is $41.06 and its 200 day moving average price is $37.89.

Summit Midstream (NYSE:SMC) last issued its 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 period last year, the firm earned ($2.12) EPS.

Institutional Trading of Summit Midstream

Several large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in shares of Summit Midstream during the 4th quarter worth $247,000. OMERS ADMINISTRATION Corp acquired a new stake in Summit Midstream during the fourth quarter worth about $382,000. Millennium Management LLC raised its stake in 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 during the period. Eagle Global Advisors LLC boosted its holdings in Summit Midstream by 131.7% in the 4th 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 purchased a new stake in shares of Summit Midstream in the 4th quarter valued at approximately $354,000. 42.97% of the stock is currently 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.