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, November 25th. The stock was sold at an average price of $37.16, for a total value of $37,160.00. Following the sale, the chief executive officer now directly owns 281,006 shares of the company’s stock, valued at approximately $10,442,182.96. The trade was a 0.35 % 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, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.85, for a total value of $36,850.00.
• On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.74, for a total value of $35,740.00.
• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.82, for a total value of $35,820.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.54, for a total value of $35,540.00.
• On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Price Performance

SMC stock traded up $0.33 during midday trading on Wednesday, reaching $37.46. 30,613 shares of the stock were exchanged, compared to its average volume of 51,056. The company has a market cap of $398.91 million, a PE ratio of -2.92 and a beta of 2.35. Summit Midstream Corporation has a 52 week low of $15.56 and a 52 week high of $40.75. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average of $35.58.

Institutional Investors Weigh In On Summit Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream in the 3rd quarter valued at about $3,794,000. Geode Capital Management LLC bought a new stake in shares of Summit Midstream in the 3rd quarter valued at about $3,313,000. Fractal Investments LLC bought a new stake in shares of Summit Midstream in the 3rd quarter valued at about $1,576,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Summit Midstream in the 3rd quarter valued at about $1,311,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Summit Midstream in the 3rd quarter valued at about $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.