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

Summit Midstream Corporation (NYSE:SMC - Get Free Report) CEO J Heath Deneke sold 1,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $35.74, for a total transaction of $35,740.00. Following the completion of the transaction, the chief executive officer now directly owns 282,006 shares of the company's stock, valued at approximately $10,078,894.44. This represents a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.82, for a total value of $35,820.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.54, for a total value 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 Stock Up 3.8 %

Shares of SMC traded up $1.35 during mid-day trading on Friday, hitting $37.35. The company had a trading volume of 86,883 shares, compared to its average volume of 51,206. Summit Midstream Corporation has a 1-year low of $15.56 and a 1-year high of $40.75. The business has a 50-day moving average of $35.49. The company has a market cap of $397.74 million, a PE ratio of -2.92 and a beta of 2.35. 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

A number of hedge funds have recently made changes to their positions in the stock. Fractal Investments LLC purchased a new position in shares of Summit Midstream in the 3rd quarter worth $1,576,000. Valeo Financial Advisors LLC acquired a new stake in Summit Midstream during the third quarter worth about $529,000. Barclays PLC purchased a new position in shares of Summit Midstream in the 3rd quarter worth about $194,000. Jane Street Group LLC acquired a new position in shares of Summit Midstream in the 3rd quarter valued at about $227,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Summit Midstream during the 3rd quarter worth about $3,313,000. Institutional investors and hedge funds 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.

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