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 Summit Midstream stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $38.04, for a total transaction of $38,040.00. Following the completion of the sale, the chief executive officer now owns 233,326 shares in the company, valued at approximately $8,875,721.04. This represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, March 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.47, for a total transaction of $37,470.00.
• On Monday, March 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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.
• On Monday, March 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.50, for a total value of $43,500.00.
• On Friday, February 28th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 transaction 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 transaction of $44,230.00.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.98, for a total value of $44,980.00.

Summit Midstream Price Performance

NYSE SMC traded up $1.36 on Monday, reaching $38.80. 111,673 shares of the stock traded hands, compared to its average volume of 73,167. Summit Midstream Corporation has a 12 month low of $31.81 and a 12 month high of $45.89. The company has a market cap of $413.13 million, a price-to-earnings ratio of -3.03 and a beta of 2.28. The firm's fifty day simple moving average is $41.21 and its 200 day simple moving average is $37.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20.

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

Institutional Trading of Summit Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in shares of Summit Midstream during the fourth quarter valued at $57,000. Tower Research Capital LLC TRC raised its holdings in Summit Midstream by 1,106.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company's stock worth $118,000 after buying an additional 2,854 shares during the period. SG Americas Securities LLC acquired a new stake in Summit Midstream during the 4th quarter worth about $159,000. EntryPoint Capital LLC purchased a new stake in Summit Midstream during the fourth quarter valued at about $207,000. Finally, Barclays PLC acquired a new position in shares of Summit Midstream in the third quarter worth about $194,000. 42.97% of the stock is currently 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.