Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $37.16, for a total transaction of $37,160.00. Following the completion of the transaction, the chief executive officer now owns 281,006 shares of the company’s stock, valued at approximately $10,442,182.96. This trade represents a 0.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.85, for a total transaction of $36,850.00.
• On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.74, for a total transaction of $35,740.00.
• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.82, for a total transaction of $35,820.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.54, for a total transaction of $35,540.00.
• On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total transaction of $35,610.00.

Summit Midstream Price Performance

NYSE SMC opened at $37.79 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a 1 year low of $15.56 and a 1 year high of $40.75. The firm has a market capitalization of $402.46 million, a P/E ratio of -2.95 and a beta of 2.35. The company has a fifty day moving average of $35.64.

Hedge Funds Weigh In On Summit Midstream

Several large investors have recently bought and sold shares of SMC. Virtus Fund Advisers LLC acquired a new position in Summit Midstream in the third quarter valued at $3,794,000. Geode Capital Management LLC acquired a new position in Summit Midstream in the third quarter valued at $3,313,000. Fractal Investments LLC acquired a new position in Summit Midstream in the third quarter valued at $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream in the third quarter valued at $1,311,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Summit Midstream in the third quarter valued at about $529,000. Institutional investors and hedge funds 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.