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 Friday, March 7th. The shares were sold at an average price of $39.23, for a total value of $39,230.00. Following the completion of the sale, the chief executive officer now directly owns 236,326 shares of the company’s stock, valued at approximately $9,271,068.98. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 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 transaction of $40,550.00.
• On Monday, March 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.50, for a total transaction 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 transaction of $44,280.00.
• On Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 stock was 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 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 shares were sold at an average price of $43.80, for a total transaction of $43,800.00.

Summit Midstream Price Performance

Shares of NYSE SMC traded down $0.99 on Tuesday, hitting $37.72. The company’s stock had a trading volume of 160,648 shares, compared to its average volume of 73,053. 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 50 day simple moving average of $41.23. Summit Midstream Corporation has a 12-month low of $31.81 and a 12-month high of $45.89. The stock has a market cap of $401.71 million, a P/E ratio of -2.94 and a beta of 2.28.

Summit Midstream (NYSE:SMC) last posted its earnings results on Monday, March 10th. The company reported ($2.19) earnings per share (EPS) 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%.

Institutional Trading of Summit Midstream

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in Summit Midstream in the 4th quarter valued at about $57,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 valued at $118,000 after buying an additional 2,854 shares during the period. Cetera Investment Advisers boosted its position in Summit Midstream by 18.9% during the fourth quarter. Cetera Investment Advisers now owns 21,856 shares of the company’s stock worth $826,000 after acquiring an additional 3,472 shares during the last quarter. Jane Street Group LLC grew its stake in Summit Midstream by 56.8% in the 4th quarter. Jane Street Group LLC now owns 10,163 shares of the company’s stock worth $384,000 after acquiring an additional 3,680 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Summit Midstream in the 4th quarter valued at $159,000. Institutional investors and hedge funds 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.