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

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.43, for a total value of $43,430.00. Following the sale, the chief executive officer now directly owns 254,326 shares of the company’s stock, valued at approximately $11,045,378.18. The trade was a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, February 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.80, for a total transaction of $43,800.00.
• On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 transaction of $42,780.00.
• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 shares were sold at an average price of $41.49, for a total value of $41,490.00.
• On Wednesday, January 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.88, for a total value of $40,880.00.
• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 stock was 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 shares were 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 value of $40,110.00.

Summit Midstream Stock Performance

Shares of Summit Midstream stock traded up $0.05 on Wednesday, hitting $43.94. The company had a trading volume of 99,695 shares, compared to its average volume of 78,064. 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’s 50 day simple moving average is $38.73. Summit Midstream Corporation has a 1 year low of $15.76 and a 1 year high of $44.67. The firm has a market capitalization of $467.93 million, a PE ratio of -3.43 and a beta of 2.37.

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

Institutional Investors Weigh In On Summit Midstream

Several large investors have recently modified their holdings of SMC. Rangeley Capital LLC bought a new stake in Summit Midstream in the 4th quarter valued at about $2,183,000. Arrowstreet Capital Limited Partnership bought a new position in Summit Midstream in the 4th quarter worth approximately $3,829,000. JPMorgan Chase & Co. purchased a new position in Summit Midstream in the 4th quarter valued at approximately $357,000. EntryPoint Capital LLC bought a new stake in Summit Midstream during the 4th quarter valued at $207,000. Finally, American Century Companies Inc. purchased a new stake in shares of Summit Midstream during the fourth quarter worth $410,000. 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.