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 on Friday, January 31st. The stock was sold at an average price of $41.49, for a total transaction of $41,490.00. Following the sale, the chief executive officer now directly owns 260,326 shares of the company’s stock, valued at approximately $10,800,925.74. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 value of $41,040.00.
• 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 value of $40,880.00.
• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 stock was 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 shares were sold at an average price of $42.06, for a total transaction of $42,060.00.
• On Friday, January 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.11, for a total transaction of $40,110.00.
• On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.98, for a total transaction of $37,980.00.
• On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.63, for a total transaction of $37,630.00.
• On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.60, for a total value of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.50, for a total value of $37,500.00.

Summit Midstream Stock Performance

Shares of NYSE SMC opened at $42.67 on Wednesday. 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 fifty-two week low of $15.56 and a fifty-two week high of $43.99. The company’s 50 day simple moving average is $38.05.

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

Institutional Investors Weigh In On Summit Midstream

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC acquired a new position in Summit Midstream in the fourth quarter worth about $2,132,000. Graham Capital Wealth Management LLC bought a new position in Summit Midstream during the 4th quarter worth approximately $3,061,000. SG Americas Securities LLC acquired a new position in shares of Summit Midstream in the 4th quarter worth approximately $159,000. Barclays PLC acquired a new position in shares of Summit Midstream in the 3rd quarter worth approximately $194,000. Finally, Geode Capital Management LLC bought a new stake in shares of Summit Midstream in the 3rd quarter valued at approximately $3,313,000. Institutional investors own 42.97% of the company’s stock.

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.