Summit Midstream Corporation (NYSE:SMC) CEO Sells $35,610.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $35.61, for a total transaction of $35,610.00. Following the completion of the sale, the chief executive officer now owns 287,006 shares in the company, valued at $10,220,283.66. This represents a 0.35 % decrease in their position. The sale 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 Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.54, for a total transaction of $35,540.00.

Summit Midstream Trading Down 0.3 %

Summit Midstream stock traded down $0.11 during mid-day trading on Tuesday, reaching $36.03. The company had a trading volume of 60,998 shares, compared to its average volume of 50,960. The company has a fifty day moving average of $35.56. The firm has a market cap of $383.72 million, a P/E ratio of -2.81 and a beta of 2.35. Summit Midstream Corporation has a fifty-two week low of $15.56 and a fifty-two week high of $40.75. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33.

Hedge Funds Weigh In On Summit Midstream

Several large investors have recently modified their holdings of SMC. Valeo Financial Advisors LLC bought a new position in shares of Summit Midstream during the third quarter valued at $529,000. Fractal Investments LLC bought a new position in shares of Summit Midstream during the third quarter valued at $1,576,000. Pekin Hardy Strauss Inc. bought a new position in shares of Summit Midstream during the third quarter valued at $1,311,000. Virtus Fund Advisers LLC bought a new position in shares of Summit Midstream during the third quarter valued at $3,794,000. Finally, Jane Street Group LLC bought a new position in shares of Summit Midstream during the third quarter valued at $227,000. 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.