Summit Midstream Corporation (NYSE:SMC) CEO Sells $41,960.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $41.96, for a total transaction of $41,960.00. Following the completion of the sale, the chief executive officer now owns 243,326 shares of the company’s stock, valued at approximately $10,209,958.96. This represents a 0.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, February 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.63, for a total transaction of $42,630.00.
• On Thursday, February 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.23, for a total transaction of $44,230.00.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.98, for a total transaction of $44,980.00.
• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $41.49, for a total transaction of $41,490.00.

Summit Midstream Stock Up 6.7 %

Shares of NYSE:SMC opened at $45.00 on Friday. 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 company has a market capitalization of $479.21 million, a price-to-earnings ratio of -3.51 and a beta of 2.37. Summit Midstream Corporation has a twelve month low of $17.26 and a twelve month high of $45.89. The stock’s 50-day simple moving average is $40.69.

Hedge Funds Weigh In On Summit Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in Summit Midstream during the fourth quarter worth about $57,000. Tower Research Capital LLC TRC boosted its position in Summit Midstream by 1,106.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock worth $118,000 after purchasing an additional 2,854 shares during the period. SG Americas Securities LLC bought a new position in shares of Summit Midstream in the fourth quarter valued at approximately $159,000. Barclays PLC bought a new position in shares of Summit Midstream in the third quarter valued at approximately $194,000. Finally, EntryPoint Capital LLC bought a new position in shares of Summit Midstream in the fourth quarter valued at approximately $207,000. Institutional investors own 42.97% of the company’s stock.

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.