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, March 28th. The shares were sold at an average price of $34.67, for a total transaction of $34,670.00. Following the completion of the sale, the chief executive officer now owns 266,170 shares of the company's stock, valued at approximately $9,228,113.90. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, March 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.33, for a total transaction of $35,330.00.
• On Monday, March 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.32, for a total transaction of $36,320.00.
• On Friday, March 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.30, for a total value of $36,300.00.
• On Wednesday, March 19th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.68, for a total transaction of $37,680.00.
• On Monday, March 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.50, for a total transaction of $38,500.00.
• On Friday, March 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.47, for a total value of $37,470.00.
• On Wednesday, March 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 value of $40,550.00.

Summit Midstream Trading Down 2.0 %

SMC stock traded down $0.67 on Tuesday, hitting $33.22. 95,581 shares of the company were exchanged, compared to its average volume of 77,155. 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 capitalization of $619.42 million, a price-to-earnings ratio of -2.59 and a beta of 2.28. The business's fifty day moving average is $40.53 and its two-hundred day moving average is $37.82. Summit Midstream Corporation has a twelve month low of $31.81 and a twelve month high of $45.89.

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Summit Midstream (NYSE:SMC - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The company reported ($2.40) earnings per share (EPS) for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. During the same quarter in the previous year, the company posted ($2.12) EPS.

Hedge Funds Weigh In On Summit Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in Summit Midstream during the fourth quarter worth approximately $57,000. Tower Research Capital LLC TRC boosted its stake in Summit Midstream by 1,106.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company's stock worth $118,000 after purchasing an additional 2,854 shares during the period. SG Americas Securities LLC purchased a new position in Summit Midstream during the 4th quarter worth approximately $159,000. Barclays PLC acquired a new stake in Summit Midstream during the 3rd quarter valued at $194,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Summit Midstream in the fourth quarter valued at $207,000. 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.