Summit Midstream Corporation (NYSE:SMC) CEO Sells $34,970.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.97, for a total value of $34,970.00. Following the completion of the transaction, the chief executive officer now owns 263,006 shares in the company, valued at approximately $9,197,319.82. This represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $34.94, for a total transaction of $34,940.00.
• On Wednesday, December 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.18, for a total transaction of $35,180.00.
• On Monday, December 16th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.18, for a total transaction of $35,180.00.
• On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.95, for a total transaction of $35,950.00.
• On Wednesday, December 11th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.09, for a total value of $37,090.00.
• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.22, for a total value of $37,220.00.
• On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.78, for a total value of $37,780.00.
• On Wednesday, December 4th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.43, for a total value of $37,430.00.
• On Monday, December 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.80, for a total transaction of $37,800.00.
• On Friday, November 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.20, for a total transaction of $37,200.00.

Summit Midstream Stock Performance

Shares of NYSE:SMC traded up $0.06 during mid-day trading on Monday, reaching $35.00. 65,474 shares of the company’s stock were exchanged, compared to its average volume of 53,614. 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 twelve month low of $15.56 and a twelve month high of $40.75. The firm has a market cap of $372.72 million, a price-to-earnings ratio of -2.73 and a beta of 2.39. The firm’s fifty day simple moving average is $35.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtus Fund Advisers LLC acquired a new stake in shares of Summit Midstream in the third quarter valued at about $3,794,000. Geode Capital Management LLC acquired a new stake in Summit Midstream during the 3rd quarter valued at approximately $3,313,000. Fractal Investments LLC bought a new position in Summit Midstream during the 3rd quarter worth approximately $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Summit Midstream in the 3rd quarter worth approximately $1,311,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Summit Midstream in the 3rd quarter worth approximately $529,000. 42.97% of the stock is owned by institutional investors and hedge funds.

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.