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 dated Monday, February 24th. The shares were sold at an average price of $42.63, for a total transaction of $42,630.00. Following the sale, the chief executive officer now directly owns 245,326 shares in the company, valued at approximately $10,458,247.38. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 value of $41,960.00.
• 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.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.98, for a total value of $44,980.00.
• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.20, for a total transaction of $44,200.00.
• On Wednesday, February 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.80, for a total value of $43,800.00.
• On Monday, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.43, for a total transaction of $43,430.00.
• On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.67, for a total value of $42,670.00.
• On Wednesday, February 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.78, for a total value of $42,780.00.
• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.04, for a total transaction of $41,040.00.
• On Friday, January 31st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.49, for a total transaction of $41,490.00.

Summit Midstream Price Performance

Shares of NYSE SMC opened at $42.23 on Thursday. 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 1 year low of $17.26 and a 1 year high of $45.89. The company’s 50-day moving average is $40.33. The stock has a market capitalization of $449.72 million, a PE ratio of -3.30 and a beta of 2.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in shares of Summit Midstream in the 4th quarter worth about $57,000. Tower Research Capital LLC TRC grew its stake in shares of Summit Midstream by 1,106.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock worth $118,000 after acquiring an additional 2,854 shares during the last quarter. SG Americas Securities LLC bought a new position in Summit Midstream in the 4th quarter worth about $159,000. Barclays PLC purchased a new stake in Summit Midstream during the 3rd quarter valued at about $194,000. Finally, EntryPoint Capital LLC bought a new stake in Summit Midstream during the 4th quarter valued at about $207,000. Hedge funds and other 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.