Summit Midstream Corporation (NYSE:SMC) CEO Sells $37,090.00 in Stock

Summit Midstream Corporation (NYSE:SMC - Get Free Report) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $37.09, for a total transaction of $37,090.00. Following the transaction, the chief executive officer now directly owns 270,006 shares in the company, valued at approximately $10,014,522.54. 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 link.

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

• On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.95, for a total value of $35,950.00.
• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.22, for a total value of $37,220.00.
• On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.78, for a total value of $37,780.00.
• On Wednesday, December 4th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.43, for a total transaction of $37,430.00.
• On Monday, December 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.80, for a total transaction of $37,800.00.
• On Friday, November 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.20, for a total value of $37,200.00.
• On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.85, for a total value of $36,850.00.
• On Monday, November 25th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.16, for a total transaction of $37,160.00.
• On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.74, for a total value of $35,740.00.
• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.82, for a total value of $35,820.00.

Summit Midstream Stock Performance

Shares of SMC traded down $0.38 during trading hours on Friday, hitting $35.91. The company had a trading volume of 76,944 shares, compared to its average volume of 53,026. The stock has a market capitalization of $382.41 million, a PE ratio of -2.83 and a beta of 2.39. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a 52-week low of $15.56 and a 52-week high of $40.75. The company's fifty day moving average is $35.99.

Hedge Funds Weigh In On Summit Midstream

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtus Fund Advisers LLC bought a new position in Summit Midstream during the 3rd quarter valued at about $3,794,000. Geode Capital Management LLC purchased a new position in shares of Summit Midstream during the third quarter valued at approximately $3,313,000. Fractal Investments LLC bought a new position in Summit Midstream during the third quarter valued at approximately $1,576,000. Pekin Hardy Strauss Inc. bought a new stake in Summit Midstream in the 3rd quarter worth approximately $1,311,000. Finally, Valeo Financial Advisors LLC purchased a new stake in Summit Midstream during the third quarter valued at approximately $529,000. 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.

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