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

Summit Midstream Corporation (NYSE:SMC - Get Free Report) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $44.20, for a total transaction of $44,200.00. Following the sale, the chief executive officer now owns 250,326 shares of the company's stock, valued at $11,064,409.20. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, February 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 shares were sold at an average price of $44.98, for a total transaction of $44,980.00.
• On Wednesday, February 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 shares were 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 stock was 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 stock was sold at an average price of $41.49, for a total transaction of $41,490.00.
• On Wednesday, January 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.88, for a total transaction of $40,880.00.
• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.80, for a total transaction of $40,800.00.

Summit Midstream Trading Down 3.7 %

Shares of SMC traded down $1.66 on Friday, reaching $43.47. 84,862 shares of the company's stock were exchanged, compared to its average volume of 64,328. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market cap of $462.90 million, a PE ratio of -3.39 and a beta of 2.37. The stock's 50 day simple moving average is $39.91. Summit Midstream Corporation has a 12 month low of $17.11 and a 12 month high of $45.89.

Institutional Investors Weigh In On Summit Midstream

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC bought a new stake in shares of Summit Midstream during the fourth quarter worth approximately $247,000. OMERS ADMINISTRATION Corp acquired a new position in Summit Midstream during the fourth quarter valued at approximately $382,000. Millennium Management LLC grew its holdings in Summit Midstream by 599.9% during the fourth quarter. Millennium Management LLC now owns 48,610 shares of the company's stock valued at $1,836,000 after purchasing an additional 41,665 shares during the period. Eagle Global Advisors LLC grew its holdings in 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 purchasing an additional 42,035 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Summit Midstream during the fourth quarter valued at approximately $354,000. 42.97% of the stock is 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.