J Heath Deneke Sells 1,000 Shares of Summit Midstream Corporation (NYSE:SMC) Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.54, for a total transaction of $35,540.00. Following the sale, the chief executive officer now owns 286,006 shares of the company’s stock, valued at approximately $10,164,653.24. This trade represents a 0.35 % decrease in their ownership of the stock. 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 Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total transaction of $35,610.00.

Summit Midstream Stock Performance

SMC stock opened at $36.00 on Friday. The stock has a 50 day moving average price of $35.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market cap of $383.40 million, a PE ratio of -2.81 and a beta of 2.35. Summit Midstream Corporation has a one year low of $15.56 and a one year high of $40.75.

Institutional Investors Weigh In On Summit Midstream

Several hedge funds have recently made changes to their positions in SMC. Valeo Financial Advisors LLC purchased a new position in Summit Midstream during the third quarter worth about $529,000. Fractal Investments LLC acquired a new position in shares of Summit Midstream during the 3rd quarter valued at about $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Summit Midstream during the 3rd quarter valued at about $1,311,000. Virtus Fund Advisers LLC purchased a new position in shares of Summit Midstream during the 3rd quarter worth about $3,794,000. Finally, Jane Street Group LLC acquired a new stake in shares of Summit Midstream in the third quarter worth approximately $227,000. Institutional investors and hedge funds 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.