Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $39.23, for a total transaction of $39,230.00. Following the completion of the transaction, the chief executive officer now owns 236,326 shares in the company, valued at approximately $9,271,068.98. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $38.52, for a total value of $38,520.00.
• On Wednesday, March 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.55, for a total transaction of $40,550.00.
• On Monday, March 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.50, for a total transaction of $43,500.00.
• On Friday, February 28th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.28, for a total value of $44,280.00.
• 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 Monday, February 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.63, for a total transaction of $42,630.00.
• 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 value of $44,230.00.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.98, for a total value of $44,980.00.
• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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.

Summit Midstream Price Performance

NYSE:SMC opened at $37.72 on Wednesday. The company has a market cap of $401.71 million, a P/E ratio of -2.94 and a beta of 2.28. The stock has a 50 day moving average price of $41.22. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a 1-year low of $31.81 and a 1-year high of $45.89.

Summit Midstream (NYSE:SMC) last released its quarterly earnings data on Monday, March 10th. The company reported ($2.19) EPS for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. The company had revenue of $107.02 million during the quarter.

Institutional Investors Weigh In On Summit Midstream

Large investors have recently made changes to their positions in the business. Barclays PLC bought a new position in shares of Summit Midstream during the third quarter valued at approximately $194,000. Graham Capital Wealth Management LLC bought a new position in Summit Midstream in the 4th quarter worth $3,061,000. Virtus Fund Advisers LLC purchased a new stake in shares of Summit Midstream in the 3rd quarter worth about $3,794,000. Jane Street Group LLC bought a new stake in shares of Summit Midstream during the 3rd quarter valued at about $227,000. Finally, Empowered Funds LLC purchased a new position in shares of Summit Midstream during the fourth quarter valued at about $2,132,000. 42.97% of the stock is currently owned by institutional investors.

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.