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 the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $42.06, for a total value of $42,060.00. Following the transaction, the chief executive officer now directly owns 268,326 shares of the company’s stock, valued at $11,285,791.56. This represents a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, January 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.11, for a total value of $40,110.00.
• On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.98, for a total value of $37,980.00.
• On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.63, for a total transaction of $37,630.00.
• On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.60, for a total transaction of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.50, for a total transaction of $37,500.00.
• On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.81, for a total value of $37,810.00.
• On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.49, for a total value of $37,490.00.
• On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.52, for a total value of $36,520.00.
• On Thursday, December 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.19, for a total value of $36,190.00.
• On Monday, December 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $34.94, for a total transaction of $34,940.00.

Summit Midstream Price Performance

Shares of Summit Midstream stock traded up $1.01 during trading on Wednesday, hitting $43.04. 120,293 shares of the company’s stock traded hands, compared to its average volume of 90,746. The firm has a market cap of $458.38 million, a P/E ratio of -3.36 and a beta of 2.37. The business’s fifty day simple moving average is $37.07. Summit Midstream Corporation has a twelve month low of $15.56 and a twelve month high of $43.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SMC. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream in the 3rd quarter worth about $3,794,000. Geode Capital Management LLC acquired a new position in Summit Midstream in the third quarter valued at about $3,313,000. Fractal Investments LLC bought a new stake in Summit Midstream during the third quarter worth about $1,576,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Summit Midstream during the third quarter worth approximately $1,311,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of Summit Midstream in the third quarter valued at approximately $529,000. 42.97% of the stock is owned by institutional investors.

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.