J Heath Deneke Sells 1,000 Shares of Summit Midstream Corporation (NYSE:SMC) Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $38.52, for a total value of $38,520.00. Following the transaction, the chief executive officer now directly owns 235,326 shares of the company’s stock, valued at $9,064,757.52. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, March 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 transaction of $40,550.00.
• On Monday, March 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.50, for a total transaction 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 transaction 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 transaction 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 stock was sold at an average price of $44.23, for a total value of $44,230.00.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 stock was sold at an average price of $44.20, for a total transaction 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 transaction of $43,800.00.

Summit Midstream Price Performance

NYSE SMC opened at $37.72 on Wednesday. The company has a fifty day moving average of $41.22. The firm has a market capitalization of $401.71 million, a P/E ratio of -2.94 and a beta of 2.28. Summit Midstream Corporation has a 1 year low of $31.81 and a 1 year high of $45.89. 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 (EPS) for the quarter. The firm had revenue of $107.02 million during 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

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in Summit Midstream during the 4th quarter worth $57,000. Tower Research Capital LLC TRC increased its position in 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 valued at $118,000 after acquiring an additional 2,854 shares during the period. Cetera Investment Advisers lifted its position in Summit Midstream by 18.9% during the 4th quarter. Cetera Investment Advisers now owns 21,856 shares of the company’s stock worth $826,000 after acquiring an additional 3,472 shares during the period. Jane Street Group LLC grew its stake 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 valued at $384,000 after purchasing an additional 3,680 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Summit Midstream in the fourth quarter valued at approximately $159,000. 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.