Summit Midstream Corporation (NYSE:SMC) CEO Sells $40,800.00 in Stock

Summit Midstream Corporation (NYSE:SMC - Get Free Report) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.80, for a total value of $40,800.00. Following the completion of the transaction, the chief executive officer now directly owns 264,326 shares in the company, valued at approximately $10,784,500.80. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, January 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.86, for a total value of $42,860.00.
• On Tuesday, January 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.06, for a total value of $42,060.00.
• On Friday, January 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.11, for a total transaction of $40,110.00.
• On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.98, for a total transaction of $37,980.00.
• On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.63, for a total transaction of $37,630.00.
• On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.60, for a total value of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.50, for a total value of $37,500.00.
• On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.81, for a total value of $37,810.00.
• On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.49, for a total transaction of $37,490.00.
• On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.52, for a total transaction of $36,520.00.

Summit Midstream Stock Performance

NYSE:SMC traded down $3.13 during midday trading on Monday, reaching $39.75. 72,890 shares of the stock traded hands, compared to its average volume of 88,649. The company has a market cap of $423.34 million, a PE ratio of -3.10 and a beta of 2.37. Summit Midstream Corporation has a 12-month low of $15.56 and a 12-month high of $43.99. 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 firm has a 50-day moving average price of $37.52.

Summit Midstream (NYSE:SMC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($15.28) EPS for the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%. The business had revenue of $102.42 million for the quarter.

Institutional Investors Weigh In On Summit Midstream

A number of large investors have recently made changes to their positions in SMC. Valeo Financial Advisors LLC acquired a new stake in Summit Midstream during the 3rd quarter worth about $529,000. Fractal Investments LLC purchased a new stake in Summit Midstream during the third quarter worth $1,576,000. Pekin Hardy Strauss Inc. acquired a new stake in Summit Midstream during the third quarter valued at $1,311,000. Virtus Fund Advisers LLC purchased a new position in Summit Midstream in the third quarter valued at $3,794,000. Finally, Jane Street Group LLC acquired a new position in shares of Summit Midstream in the third quarter worth about $227,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

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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