Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells $35,820.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $35.82, for a total value of $35,820.00. Following the transaction, the chief executive officer now directly owns 284,006 shares in the company, valued at $10,173,094.92. This trade represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.74, for a total value of $35,740.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.54, for a total value of $35,540.00.
• On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Stock Performance

NYSE SMC opened at $37.35 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. Summit Midstream Corporation has a twelve month low of $15.56 and a twelve month high of $40.75. The company’s 50 day moving average price is $35.54.

Institutional Investors Weigh In On Summit Midstream

Several hedge funds have recently made changes to their positions in the company. Barclays PLC bought a new stake in Summit Midstream in the third quarter worth $194,000. Jane Street Group LLC bought a new stake in Summit Midstream in the third quarter worth $227,000. Valeo Financial Advisors LLC bought a new stake in Summit Midstream in the third quarter worth $529,000. Pekin Hardy Strauss Inc. bought a new stake in Summit Midstream in the third quarter worth $1,311,000. Finally, Fractal Investments LLC bought a new stake in Summit Midstream in the third quarter worth $1,576,000. 42.97% of the stock is currently owned by institutional investors.

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.