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 Friday, March 28th. The stock was sold at an average price of $34.67, for a total value of $34,670.00. Following the sale, the chief executive officer now directly owns 266,170 shares of the company’s stock, valued at $9,228,113.90. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, March 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.33, for a total value of $35,330.00.
• On Monday, March 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.32, for a total transaction of $36,320.00.
• On Friday, March 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.30, for a total transaction of $36,300.00.
• On Wednesday, March 19th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.68, for a total transaction of $37,680.00.
• On Monday, March 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.50, for a total value of $38,500.00.
• On Friday, March 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.47, for a total transaction of $37,470.00.
• On Wednesday, March 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.04, for a total value of $38,040.00.
• On Monday, March 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $38.52, for a total transaction of $38,520.00.
• On Friday, March 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $39.23, for a total transaction of $39,230.00.
• On Wednesday, March 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.55, for a total value of $40,550.00.

Summit Midstream Price Performance

Shares of SMC stock traded down $1.20 during trading hours on Friday, hitting $34.25. The company’s stock had a trading volume of 61,617 shares, compared to its average volume of 76,895. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a twelve month low of $31.81 and a twelve month high of $45.89. The stock has a market cap of $638.50 million, a price-to-earnings ratio of -2.67 and a beta of 2.28. The business has a fifty day moving average of $41.01 and a 200-day moving average of $37.87.

Summit Midstream (NYSE:SMC) last posted its quarterly earnings data on Friday, March 21st. The company reported ($2.40) earnings per share (EPS) for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. During the same period last year, the firm posted ($2.12) EPS.

Institutional Trading of Summit Midstream

Institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in shares of Summit Midstream during the fourth quarter valued at approximately $247,000. OMERS ADMINISTRATION Corp acquired a new position in Summit Midstream in the 4th quarter worth $382,000. Millennium Management LLC grew its stake in shares of Summit Midstream by 599.9% during the fourth quarter. Millennium Management LLC now owns 48,610 shares of the company’s stock valued at $1,836,000 after acquiring an additional 41,665 shares in the last quarter. Eagle Global Advisors LLC increased its position in shares of 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 acquiring an additional 42,035 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Summit Midstream in the fourth quarter worth about $354,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

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.