Summit Midstream Corporation (NYSE:SMC) CEO Sells $44,980.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.98, for a total transaction of $44,980.00. Following the transaction, the chief executive officer now directly owns 249,326 shares in the company, valued at $11,214,683.48. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.20, for a total transaction of $44,200.00.
• On Wednesday, February 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.80, for a total transaction of $43,800.00.
• On Monday, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.43, for a total transaction of $43,430.00.
• On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.67, for a total transaction of $42,670.00.
• On Wednesday, February 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.78, for a total transaction of $42,780.00.
• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.04, for a total transaction of $41,040.00.
• On Friday, January 31st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.49, for a total transaction of $41,490.00.
• On Wednesday, January 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.88, for a total transaction of $40,880.00.
• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.80, for a total transaction of $40,800.00.
• On Thursday, January 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.86, for a total transaction of $42,860.00.

Summit Midstream Stock Performance

NYSE SMC opened at $44.95 on Thursday. Summit Midstream Corporation has a 52-week low of $17.03 and a 52-week high of $45.89. The stock’s 50-day moving average is $39.42. 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 stock has a market capitalization of $478.75 million, a P/E ratio of -3.51 and a beta of 2.37.

Institutional Trading of Summit Midstream

A number of large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new stake in Summit Midstream during the fourth quarter worth about $247,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Summit Midstream in the fourth quarter worth about $382,000. Millennium Management LLC increased its stake in shares of Summit Midstream by 599.9% in the fourth quarter. Millennium Management LLC now owns 48,610 shares of the company’s stock worth $1,836,000 after purchasing an additional 41,665 shares in the last quarter. Eagle Global Advisors LLC increased its stake in shares of Summit Midstream by 131.7% in the fourth quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock worth $2,794,000 after purchasing an additional 42,035 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Summit Midstream in the fourth quarter worth about $354,000. 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.