Summit Midstream Corporation (NYSE:SMC) CEO Sells $37,470.00 in Stock

Summit Midstream Corporation (NYSE:SMC - Get Free Report) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction on Friday, March 14th. The stock was sold at an average price of $37.47, for a total transaction of $37,470.00. Following the sale, the chief executive officer now owns 231,326 shares in the company, valued at $8,667,785.22. This represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, March 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $38.04, for a total value of $38,040.00.
• On Monday, March 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.52, for a total value of $38,520.00.
• On Friday, March 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $39.23, for a total value of $39,230.00.
• 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 stock was sold at an average price of $44.28, for a total transaction of $44,280.00.
• On Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 value of $42,630.00.
• 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 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.

Summit Midstream Stock Performance

Shares of NYSE SMC traded down $1.20 during mid-day trading on Tuesday, hitting $37.51. 81,246 shares of the company were exchanged, compared to its average volume of 73,216. The stock has a 50 day simple moving average of $41.21 and a 200-day simple moving average of $37.90. Summit Midstream Corporation has a 1-year low of $31.81 and a 1-year high of $45.89. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The firm has a market cap of $399.42 million, a price-to-earnings ratio of -2.93 and a beta of 2.28.

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

Institutional Investors Weigh In On Summit Midstream

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC purchased a new position in shares of Summit Midstream during the 3rd quarter worth approximately $194,000. Graham Capital Wealth Management LLC acquired a new position in Summit Midstream during the fourth quarter worth $3,061,000. AlphaQuest LLC purchased a new position in Summit Midstream in the fourth quarter worth $363,000. Virtus Fund Advisers LLC acquired a new stake in Summit Midstream in the third quarter valued at $3,794,000. Finally, Jane Street Group LLC purchased a new stake in shares of Summit Midstream during the 3rd quarter worth $227,000. Institutional investors and hedge funds own 42.97% of the company's stock.

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.