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 company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.50, for a total transaction of $38,500.00. Following the transaction, the chief executive officer now owns 275,170 shares in the company, valued at $10,594,045. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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 transaction 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 transaction 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 shares were 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 shares were sold at an average price of $43.50, for a total transaction 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 transaction of $44,280.00.
• On Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.96, for a total transaction of $41,960.00.
• On Monday, February 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.63, for a total transaction of $42,630.00.
• On Thursday, February 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.23, for a total transaction of $44,230.00.

Summit Midstream Trading Down 3.1 %

Shares of NYSE SMC opened at $37.51 on Wednesday. The company’s fifty day moving average is $41.20 and its 200-day moving average is $37.91. The stock has a market cap of $399.42 million, a price-to-earnings ratio of -2.93 and a beta of 2.28. Summit Midstream Corporation has a twelve month low of $31.81 and a twelve month high of $45.89. 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 (NYSE:SMC) last issued its quarterly earnings data on Monday, March 10th. The company reported ($2.19) EPS for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. The company had revenue of $107.02 million for the quarter.

Institutional Investors Weigh In On Summit Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in SMC. Barclays PLC acquired a new stake in Summit Midstream in the 3rd quarter valued at $194,000. Graham Capital Wealth Management LLC acquired a new stake in Summit Midstream in the 4th quarter valued at $3,061,000. AlphaQuest LLC acquired a new stake in Summit Midstream in the 4th quarter valued at $363,000. Virtus Fund Advisers LLC acquired a new stake in Summit Midstream in the 3rd quarter valued at $3,794,000. Finally, Jane Street Group LLC acquired a new stake in Summit Midstream in the 3rd quarter valued at $227,000. 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.