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 that occurred on Friday, March 7th. The shares were sold at an average price of $39.23, for a total transaction of $39,230.00. Following the completion of the transaction, the chief executive officer now owns 236,326 shares in the company, valued at $9,271,068.98. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, March 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.52, for a total transaction of $38,520.00.
• On Wednesday, March 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.55, for a total transaction 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 stock was 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 transaction 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 transaction of $44,230.00.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.98, for a total transaction of $44,980.00.
• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 stock was sold at an average price of $43.80, for a total value of $43,800.00.

Summit Midstream Trading Down 2.5 %

NYSE SMC traded down $0.99 during mid-day trading on Tuesday, reaching $37.72. 160,648 shares of the company’s stock traded hands, compared to its average volume of 73,053. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a 1-year low of $31.81 and a 1-year high of $45.89. The firm’s fifty day simple moving average is $41.23. The stock has a market capitalization of $401.71 million, a P/E ratio of -2.94 and a beta of 2.28.

Summit Midstream (NYSE:SMC) last released its quarterly earnings results on Monday, March 10th. The company reported ($2.19) earnings per share for the quarter. The company had revenue of $107.02 million for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Summit Midstream in the 4th quarter valued at about $57,000. Tower Research Capital LLC TRC increased its holdings in Summit Midstream by 1,106.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock valued at $118,000 after buying an additional 2,854 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Summit Midstream during the fourth quarter valued at approximately $159,000. EntryPoint Capital LLC acquired a new stake in Summit Midstream during the fourth quarter valued at approximately $207,000. Finally, Barclays PLC bought a new position in Summit Midstream during the 3rd quarter worth approximately $194,000. 42.97% of the stock is owned by institutional investors and hedge funds.

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.