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 company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $37.78, for a total transaction of $37,780.00. Following the sale, the chief executive officer now owns 273,006 shares in the company, valued at $10,314,166.68. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.22, for a total transaction of $37,220.00.
• On Wednesday, December 4th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.43, for a total transaction of $37,430.00.
• On Monday, December 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.80, for a total transaction of $37,800.00.
• On Friday, November 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.20, for a total value of $37,200.00.
• On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.85, for a total value of $36,850.00.
• On Monday, November 25th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.16, for a total value of $37,160.00.
• 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 stock was sold at an average price of $35.82, for a total transaction 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 transaction of $35,540.00.
• On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total transaction of $35,610.00.

Summit Midstream Price Performance

Shares of SMC traded up $0.08 during midday trading on Tuesday, reaching $37.47. 80,274 shares of the stock were exchanged, compared to its average volume of 52,333. The stock has a market cap of $399.02 million, a P/E ratio of -2.93 and a beta of 2.39. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream Corporation has a twelve month low of $15.56 and a twelve month high of $40.75. The firm has a 50-day simple moving average of $35.99.

Institutional Investors Weigh In On Summit Midstream

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMC. Barclays PLC acquired a new position in shares of Summit Midstream in the 3rd quarter valued at $194,000. Geode Capital Management LLC purchased a new position in Summit Midstream during the 3rd quarter worth $3,313,000. Jane Street Group LLC acquired a new position in Summit Midstream in the third quarter valued at $227,000. Virtus Fund Advisers LLC purchased a new stake in shares of Summit Midstream in the third quarter valued at about $3,794,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Summit Midstream during the third quarter worth about $1,311,000. 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.