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

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $37.68, for a total value of $37,680.00. Following the completion of the sale, the chief executive officer now directly owns 273,170 shares in the company, valued at $10,293,045.60. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, March 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.30, for a total value of $36,300.00.
• On Monday, March 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $38.50, for a total transaction of $38,500.00.
• On Friday, March 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.47, for a total transaction 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 transaction of $38,040.00.
• 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 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 stock was 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 transaction of $41,960.00.

Summit Midstream Stock Performance

NYSE:SMC opened at $36.18 on Friday. The company’s 50-day moving average is $41.18 and its two-hundred day moving average is $37.90. Summit Midstream Corporation has a 1-year low of $31.81 and a 1-year high of $45.89. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $385.23 million, a price-to-earnings ratio of -2.82 and a beta of 2.28.

Summit Midstream (NYSE:SMC) last released its quarterly earnings results on Friday, March 21st. The company reported ($2.40) EPS for the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%. During the same quarter in the previous year, the business posted ($2.12) EPS.

Institutional Trading of Summit Midstream

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtus Fund Advisers LLC acquired a new position in Summit Midstream during the 3rd quarter worth $3,794,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Midstream in the 4th quarter valued at $3,829,000. Geode Capital Management LLC purchased a new position in shares of Summit Midstream during the third quarter worth about $3,313,000. Graham Capital Wealth Management LLC purchased a new stake in Summit Midstream during the 4th quarter valued at approximately $3,061,000. Finally, Eagle Global Advisors LLC lifted its position in Summit Midstream by 131.7% during the 4th quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock worth $2,794,000 after acquiring an additional 42,035 shares during the period. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

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.