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 dated Friday, March 28th. The shares were sold at an average price of $34.67, for a total value of $34,670.00. Following the completion of the transaction, the chief executive officer now owns 266,170 shares in the company, valued at $9,228,113.90. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, March 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.33, for a total value of $35,330.00.
• On Monday, March 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.32, for a total transaction of $36,320.00.
• On Friday, March 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.30, for a total transaction of $36,300.00.
• On Wednesday, March 19th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.68, for a total transaction of $37,680.00.
• 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 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 shares were 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 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 shares were sold at an average price of $40.55, for a total value of $40,550.00.

Summit Midstream Trading Down 3.4 %

Shares of SMC stock opened at $34.25 on Friday. 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 $40.86 and its 200 day simple moving average is $37.84. The firm has a market capitalization of $638.50 million, a P/E ratio of -2.67 and a beta of 2.28.

Summit Midstream (NYSE:SMC) last released its earnings results on Friday, March 21st. The company reported ($2.40) earnings per share 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 prior year, the firm posted ($2.12) earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMC. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream in the 3rd quarter valued at approximately $3,794,000. Arrowstreet Capital Limited Partnership acquired a new stake in Summit Midstream in the 4th quarter valued at $3,829,000. Geode Capital Management LLC bought a new stake in Summit Midstream in the third quarter valued at $3,313,000. Graham Capital Wealth Management LLC acquired a new position in Summit Midstream during the fourth quarter worth $3,061,000. Finally, Eagle Global Advisors LLC lifted its holdings in shares of Summit Midstream by 131.7% during the fourth quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock valued at $2,794,000 after acquiring an additional 42,035 shares during the period. 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.