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

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.98, for a total value of $44,980.00. Following the completion of the transaction, the chief executive officer now directly owns 249,326 shares in the company, valued at $11,214,683.48. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.20, for a total value of $44,200.00.
• On Wednesday, February 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.80, for a total value of $43,800.00.
• On Monday, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.43, for a total value of $43,430.00.
• On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.67, for a total value of $42,670.00.
• On Wednesday, February 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.78, for a total transaction of $42,780.00.
• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.04, for a total transaction of $41,040.00.
• On Friday, January 31st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.49, for a total transaction of $41,490.00.
• On Wednesday, January 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.88, for a total transaction of $40,880.00.
• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.80, for a total value of $40,800.00.
• 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.

Summit Midstream Stock Up 1.9 %

Shares of SMC traded up $0.84 during mid-day trading on Tuesday, hitting $45.04. The stock had a trading volume of 84,639 shares, compared to its average volume of 77,963. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $479.65 million, a P/E ratio of -3.52 and a beta of 2.37. Summit Midstream Corporation has a fifty-two week low of $17.03 and a fifty-two week high of $45.89. The company’s fifty day moving average price is $39.27.

Hedge Funds Weigh In On Summit Midstream

A number of hedge funds have recently added to or reduced their stakes in SMC. Squarepoint Ops LLC bought a new position in shares of Summit Midstream in the 4th quarter worth about $247,000. OMERS ADMINISTRATION Corp acquired a new stake in Summit Midstream during the fourth quarter worth about $382,000. Millennium Management LLC lifted its holdings in Summit Midstream by 599.9% in the fourth quarter. Millennium Management LLC now owns 48,610 shares of the company’s stock worth $1,836,000 after acquiring an additional 41,665 shares during the last quarter. Eagle Global Advisors LLC boosted its stake in Summit Midstream by 131.7% in the fourth quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock valued at $2,794,000 after acquiring an additional 42,035 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Summit Midstream during the fourth quarter valued at approximately $354,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

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.