Summit Midstream Corporation (NYSE:SMC) CEO Sells $40,880.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $40,880.00. Following the completion of the sale, the chief executive officer now directly owns 262,326 shares of the company’s stock, valued at $10,723,886.88. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.80, for a total value of $40,800.00.
• On Thursday, January 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.86, for a total transaction of $42,860.00.
• 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 transaction of $42,060.00.
• On Friday, January 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.11, for a total transaction of $40,110.00.
• On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.98, for a total transaction 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 shares were sold at an average price of $37.60, for a total value of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.50, for a total value of $37,500.00.
• On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.81, for a total value of $37,810.00.
• On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.49, for a total transaction of $37,490.00.

Summit Midstream Stock Performance

NYSE:SMC traded up $0.29 during trading hours on Thursday, hitting $41.46. The stock had a trading volume of 32,261 shares, compared to its average volume of 81,451. The firm has a 50 day moving average price of $37.79. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $441.48 million, a P/E ratio of -3.24 and a beta of 2.37. 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 data on Tuesday, November 12th. The company reported ($15.28) EPS for the quarter. The firm had revenue of $102.42 million during the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%.

Hedge Funds Weigh In On Summit Midstream

Several institutional investors have recently modified their holdings of the business. Empowered Funds LLC bought a new stake in Summit Midstream during the 4th quarter worth approximately $2,132,000. Graham Capital Wealth Management LLC acquired a new position in shares of Summit Midstream during the fourth quarter worth about $3,061,000. SG Americas Securities LLC bought a new position in shares of Summit Midstream during the fourth quarter worth about $159,000. Barclays PLC acquired a new stake in Summit Midstream in the 3rd quarter valued at approximately $194,000. Finally, Geode Capital Management LLC bought a new stake in Summit Midstream in the 3rd quarter valued at approximately $3,313,000. Institutional investors own 42.97% of the company’s stock.

About Summit Midstream

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.