Summit Midstream Corporation (NYSE:SMC) CEO Sells $36,300.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $36.30, for a total transaction of $36,300.00. Following the transaction, the chief executive officer now directly owns 271,170 shares of the company’s stock, valued at approximately $9,843,471. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, March 19th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.68, for a total transaction of $37,680.00.
• On Monday, March 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $38.50, for a total transaction of $38,500.00.
• On Friday, March 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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.

Summit Midstream Price Performance

Shares of Summit Midstream stock opened at $36.18 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The company’s 50-day moving average price is $41.18 and its two-hundred day moving average price is $37.92. Summit Midstream Corporation has a 52 week low of $31.81 and a 52 week high of $45.89. The stock has a market cap of $385.23 million, a PE ratio of -2.82 and a beta of 2.28.

Summit Midstream (NYSE:SMC) last issued its quarterly earnings results on Friday, March 21st. The company reported ($2.40) EPS for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. During the same quarter in the prior year, the firm earned ($2.12) earnings per share.

Institutional Investors Weigh In On Summit Midstream

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Virtus Fund Advisers LLC bought a new stake in Summit Midstream in the third quarter worth about $3,794,000. Arrowstreet Capital Limited Partnership acquired a new stake in Summit Midstream during the 4th quarter worth about $3,829,000. Geode Capital Management LLC acquired a new stake in Summit Midstream during the 3rd quarter worth about $3,313,000. Graham Capital Wealth Management LLC acquired a new stake in Summit Midstream during the 4th quarter worth about $3,061,000. Finally, Eagle Global Advisors LLC raised its holdings in Summit Midstream by 131.7% during the 4th quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock worth $2,794,000 after buying an additional 42,035 shares during the period. 42.97% of the stock is currently owned by institutional investors.

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.