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 Summit Midstream stock in a transaction on Monday, November 25th. The shares were sold at an average price of $37.16, for a total value of $37,160.00. Following the sale, the chief executive officer now directly owns 281,006 shares of the company’s stock, valued at $10,442,182.96. This represents a 0.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.85, for a total value of $36,850.00.
• On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.74, for a total value of $35,740.00.
• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.82, for a total value of $35,820.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.54, for a total value of $35,540.00.
• On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Stock Performance

NYSE:SMC opened at $37.46 on Thursday. The company’s fifty day simple moving average is $35.59. Summit Midstream Corporation has a 52-week low of $15.56 and a 52-week high of $40.75. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $398.91 million, a price-to-earnings ratio of -2.92 and a beta of 2.35.

Institutional Investors Weigh In On Summit Midstream

Large investors have recently added to or reduced their stakes in the company. Fractal Investments LLC purchased a new stake in Summit Midstream during the third quarter valued at about $1,576,000. Valeo Financial Advisors LLC purchased a new stake in Summit Midstream during the third quarter valued at about $529,000. Pekin Hardy Strauss Inc. purchased a new stake in Summit Midstream during the third quarter valued at about $1,311,000. Barclays PLC purchased a new stake in Summit Midstream during the third quarter valued at about $194,000. Finally, Jane Street Group LLC purchased a new stake in Summit Midstream during the third quarter valued at about $227,000. Hedge funds and other institutional investors 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.