Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $34.94, for a total value of $34,940.00. Following the completion of the sale, the chief executive officer now owns 262,006 shares in the company, valued at approximately $9,154,489.64. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, December 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $34.97, for a total value of $34,970.00.
• On Wednesday, December 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.18, for a total value of $35,180.00.
• On Monday, December 16th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.18, for a total value of $35,180.00.
• On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.95, for a total transaction of $35,950.00.
• On Wednesday, December 11th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.09, for a total transaction of $37,090.00.
• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.22, for a total transaction of $37,220.00.
• On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 value of $37,430.00.
• On Monday, December 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.80, for a total transaction 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 transaction of $37,200.00.

Summit Midstream Stock Performance

Shares of NYSE SMC traded up $0.06 during mid-day trading on Monday, reaching $35.00. 65,474 shares of the company’s stock were exchanged, compared to its average volume of 53,614. The stock’s 50-day moving average is $35.91. 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 $372.72 million, a price-to-earnings ratio of -2.73 and a beta of 2.39. Summit Midstream Corporation has a 52-week low of $15.56 and a 52-week high of $40.75.

Institutional Investors Weigh In On Summit Midstream

A number of institutional investors have recently made changes to their positions in SMC. Barclays PLC acquired a new position in shares of Summit Midstream in the 3rd quarter worth approximately $194,000. Jane Street Group LLC purchased a new position in Summit Midstream during the 3rd quarter valued at about $227,000. Valeo Financial Advisors LLC acquired a new position in Summit Midstream in the 3rd quarter valued at about $529,000. Pekin Hardy Strauss Inc. purchased a new stake in Summit Midstream during the third quarter worth about $1,311,000. Finally, Fractal Investments LLC acquired a new stake in shares of Summit Midstream during the third quarter worth about $1,576,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

Summit Midstream Company Profile

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.