Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Posted by Brenda Bartman on Jan 24th, 2025

Summit Midstream Corporation (NYSE:SMC – Get Free Report) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $40.11, for a total value of $40,110.00. Following the transaction, the chief executive officer now directly owns 246,006 shares in the company, valued at approximately $9,867,300.66. This represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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 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 value of $37,980.00.
On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.63, for a total value of $37,630.00.
On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.60, for a total transaction of $37,600.00.
On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.50, for a total transaction of $37,500.00.
On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.81, for a total transaction of $37,810.00.
On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.49, for a total value of $37,490.00.
On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.52, for a total value of $36,520.00.
On Thursday, December 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.19, for a total value of $36,190.00.
On Monday, December 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $34.94, for a total value of $34,940.00.

Summit Midstream Price Performance

Shares of NYSE:SMC opened at $42.33 on Friday. The firm has a market cap of $450.79 million, a P/E ratio of -3.30 and a beta of 2.37. The company has a 50 day moving average price of $37.23. 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 fifty-two week low of $15.56 and a fifty-two week high of $43.99.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Summit Midstream during the fourth quarter worth about $159,000. Barclays PLC bought a new stake in Summit Midstream during the 3rd quarter worth approximately $194,000. Geode Capital Management LLC acquired a new stake in Summit Midstream during the 3rd quarter worth approximately $3,313,000. Jane Street Group LLC bought a new position in Summit Midstream in the third quarter valued at approximately $227,000. Finally, Virtus Fund Advisers LLC acquired a new position in shares of Summit Midstream in the third quarter valued at approximately $3,794,000. 42.97% of the stock is owned by institutional investors and hedge funds.

About Summit Midstream

(Get Free Report)

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.