Summit Midstream Corporation (NYSE:SMC) CEO Sells $37,490.00 in Stock

Posted by Tech Dows on Jan 4th, 2025

Summit Midstream Corporation (NYSE:SMC – Get Free Report) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $37.49, for a total value of $37,490.00. Following the completion of the sale, the chief executive officer now owns 256,006 shares of the company’s stock, valued at $9,597,664.94. This trade represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.52, for a total value of $36,520.00.
On Thursday, December 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.19, for a total value of $36,190.00.
On Monday, December 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $34.94, for a total value of $34,940.00.
On Friday, December 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $34.97, for a total value of $34,970.00.
On Wednesday, December 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.18, for a total value of $35,180.00.
On Monday, December 16th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.18, for a total value of $35,180.00.
On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.95, for a total value of $35,950.00.
On Wednesday, December 11th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.09, for a total value of $37,090.00.
On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.22, for a total value of $37,220.00.
On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.78, for a total value of $37,780.00.

Summit Midstream Stock Performance

Summit Midstream stock opened at $38.00 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream Corporation has a 52 week low of $15.56 and a 52 week high of $40.75. The firm has a market cap of $404.66 million, a PE ratio of -2.97 and a beta of 2.39. The stock’s fifty day simple moving average is $36.09.

Hedge Funds Weigh In On Summit Midstream

A number of institutional investors have recently modified their holdings of SMC. Virtus Fund Advisers LLC acquired a new position in shares of Summit Midstream during the 3rd quarter worth $3,794,000. Geode Capital Management LLC acquired a new position in Summit Midstream in the 3rd quarter worth about $3,313,000. Fractal Investments LLC acquired a new position in Summit Midstream in the 3rd quarter worth about $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream in the 3rd quarter worth about $1,311,000. Finally, Valeo Financial Advisors LLC acquired a new position in Summit Midstream in the 3rd quarter worth about $529,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

About Summit Midstream

(Get Free Report)

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.