Summit Midstream Corporation (NYSE:SMC) CEO Sells $38,500.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.50, for a total value of $38,500.00. Following the sale, the chief executive officer now owns 275,170 shares of the company’s stock, valued at approximately $10,594,045. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 stock was sold at an average price of $37.47, for a total value of $37,470.00.
• On Wednesday, March 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $38.04, for a total value of $38,040.00.
• 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 stock was 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 shares were 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 value 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 value of $41,960.00.
• On Monday, February 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.63, for a total value 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 value of $44,230.00.

Summit Midstream Price Performance

Shares of NYSE:SMC opened at $37.98 on Thursday. The business has a 50 day moving average price of $41.22 and a 200 day moving average price of $37.91. Summit Midstream Corporation has a twelve month low of $31.81 and a twelve month high of $45.89. The company has a market cap of $404.41 million, a price-to-earnings ratio of -2.96 and a beta of 2.28. 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 (NYSE:SMC) last announced its earnings results on Monday, March 10th. The company reported ($2.19) earnings per share for the quarter. The business had revenue of $107.02 million for the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%.

Hedge Funds Weigh In On Summit Midstream

Several large investors have recently added to or reduced their stakes in SMC. BNP Paribas Financial Markets acquired a new position in shares of Summit Midstream in the 4th quarter worth approximately $57,000. Tower Research Capital LLC TRC raised its holdings in shares of Summit Midstream by 1,106.2% in 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 in the last quarter. Cetera Investment Advisers raised its holdings in shares of Summit Midstream by 18.9% in the 4th quarter. Cetera Investment Advisers now owns 21,856 shares of the company’s stock worth $826,000 after buying an additional 3,472 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Summit Midstream by 56.8% in the 4th quarter. Jane Street Group LLC now owns 10,163 shares of the company’s stock worth $384,000 after buying an additional 3,680 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Summit Midstream in the 4th quarter worth approximately $159,000. 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.