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 firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $37.22, for a total transaction of $37,220.00. Following the transaction, the chief executive officer now owns 272,006 shares of the company’s stock, valued at approximately $10,124,063.32. This trade represents a 0.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.78, for a total transaction of $37,780.00.
• On Wednesday, December 4th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.43, for a total transaction of $37,430.00.
• On Monday, December 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.80, for a total value of $37,800.00.
• On Friday, November 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.20, for a total value of $37,200.00.
• On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.85, for a total value of $36,850.00.
• On Monday, November 25th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.16, for a total transaction of $37,160.00.
• 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 transaction of $35,740.00.
• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 stock was 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 stock was sold at an average price of $35.61, for a total transaction of $35,610.00.

Summit Midstream Price Performance

SMC traded up $0.08 during trading on Tuesday, reaching $37.47. 80,274 shares of the stock traded hands, compared to its average volume of 52,333. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. Summit Midstream Corporation has a fifty-two week low of $15.56 and a fifty-two week high of $40.75. The firm’s 50-day moving average price is $35.99. The stock has a market cap of $399.02 million, a PE ratio of -2.93 and a beta of 2.39.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMC. Virtus Fund Advisers LLC acquired a new stake in shares of Summit Midstream in the third quarter worth $3,794,000. Geode Capital Management LLC acquired a new position in Summit Midstream in the 3rd quarter valued at $3,313,000. Fractal Investments LLC bought a new position in Summit Midstream in the 3rd quarter worth $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream during the 3rd quarter worth $1,311,000. Finally, Valeo Financial Advisors LLC bought a new stake in Summit Midstream during the third quarter valued at about $529,000. 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.