Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke Sells 1,000 Shares

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $38.52, for a total value of $38,520.00. Following the sale, the chief executive officer now directly owns 235,326 shares in the company, valued at $9,064,757.52. The trade was a 0.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, March 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $39.23, for a total value of $39,230.00.
• On Wednesday, March 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.55, for a total value of $40,550.00.
• On Monday, March 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.50, for a total value of $43,500.00.
• On Friday, February 28th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.28, for a total value of $44,280.00.
• On Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.96, for a total value of $41,960.00.
• On Monday, February 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.63, for a total value of $42,630.00.
• On Thursday, February 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.23, for a total value of $44,230.00.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.98, for a total value of $44,980.00.
• 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 value 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 value of $43,800.00.

Summit Midstream Price Performance

Shares of NYSE SMC opened at $37.68 on Thursday. The company has a market cap of $401.26 million, a PE ratio of -2.94 and a beta of 2.28. The firm has a 50-day moving average of $41.22. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream Corporation has a fifty-two week low of $31.81 and a fifty-two week high of $45.89.

Summit Midstream (NYSE:SMC) last announced its quarterly earnings data on Monday, March 10th. The company reported ($2.19) earnings per share for the quarter. The company had revenue of $107.02 million during the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%.

Hedge Funds Weigh In On Summit Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtus Fund Advisers LLC bought a new position in Summit Midstream during the third quarter worth about $3,794,000. Arrowstreet Capital Limited Partnership bought a new position in Summit Midstream during the fourth quarter worth about $3,829,000. Geode Capital Management LLC bought a new position in Summit Midstream during the third quarter worth about $3,313,000. Graham Capital Wealth Management LLC bought a new position in Summit Midstream during the fourth quarter worth about $3,061,000. Finally, Eagle Global Advisors LLC grew its holdings in Summit Midstream by 131.7% during 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 during the period. 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.