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

Posted by Stephan Jacobs on Feb 28th, 2025

Summit Midstream Corporation (NYSE:SMC – Get Free Report) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $42.63, for a total transaction of $42,630.00. Following the completion of the transaction, the chief executive officer now owns 245,326 shares in the company, valued at approximately $10,458,247.38. The trade was a 0.41 % decrease in their ownership of the stock. The transaction 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 Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.96, for a total transaction of $41,960.00.
On Thursday, February 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.23, for a total transaction of $44,230.00.
On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.98, for a total transaction of $44,980.00.
On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.20, for a total transaction of $44,200.00.
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 Monday, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.43, for a total transaction of $43,430.00.
On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.67, for a total transaction 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 shares were 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 transaction of $41,490.00.

Summit Midstream Stock Performance

SMC stock opened at $42.37 on Friday. The stock has a market capitalization of $451.20 million, a price-to-earnings ratio of -3.31 and a beta of 2.37. The firm’s 50-day moving average price is $40.49. Summit Midstream Corporation has a one year low of $17.26 and a one year high of $45.89. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Hedge Funds Weigh In On Summit Midstream

Several hedge funds have recently modified their holdings of the stock. Virtus Fund Advisers LLC acquired a new position in shares of Summit Midstream during the third quarter valued at about $3,794,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Midstream during the fourth quarter valued at about $3,829,000. Geode Capital Management LLC acquired a new position in shares of Summit Midstream during the third quarter valued at about $3,313,000. Graham Capital Wealth Management LLC acquired a new position in shares of Summit Midstream during the fourth quarter valued at about $3,061,000. Finally, Eagle Global Advisors LLC increased its holdings in shares of Summit Midstream by 131.7% during the fourth quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock valued at $2,794,000 after acquiring an additional 42,035 shares in the last quarter. Institutional investors and hedge funds own 42.97% of the company’s stock.

About Summit Midstream

(Get Free Report)

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.