Summit Midstream Corporation (NYSE:SMC) CEO Sells $40,110.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $40.11, for a total transaction of $40,110.00. Following the sale, the chief executive officer now owns 246,006 shares of the company’s stock, valued at $9,867,300.66. The trade was a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, January 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.06, for a total value of $42,060.00.
• On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.98, for a total value of $37,980.00.
• On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.63, for a total value of $37,630.00.
• On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.60, for a total transaction of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.50, for a total transaction of $37,500.00.
• On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.81, for a total transaction of $37,810.00.
• On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.49, for a total transaction of $37,490.00.
• On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 stock was 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.

Summit Midstream Stock Performance

NYSE SMC traded up $1.01 during trading hours on Wednesday, reaching $43.04. 120,293 shares of the company’s stock were exchanged, compared to its average volume of 90,746. 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 firm has a market capitalization of $458.38 million, a P/E ratio of -3.36 and a beta of 2.37. The business’s 50-day moving average price is $37.07. Summit Midstream Corporation has a one year low of $15.56 and a one year high of $43.99.

Summit Midstream (NYSE:SMC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($15.28) earnings per share for the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%. The company had revenue of $102.42 million during the quarter.

Hedge Funds Weigh In On Summit Midstream

A number of large investors have recently added to or reduced their stakes in SMC. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream in the third quarter valued at about $3,794,000. Geode Capital Management LLC acquired a new stake in Summit Midstream in the 3rd quarter valued at approximately $3,313,000. Fractal Investments LLC bought a new stake in Summit Midstream in the 3rd quarter valued at approximately $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream during the 3rd quarter worth approximately $1,311,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of Summit Midstream during the 3rd quarter worth approximately $529,000. 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.