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

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $38.52, for a total transaction of $38,520.00. Following the completion of the sale, the chief executive officer now owns 235,326 shares of the company’s stock, valued at approximately $9,064,757.52. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 stock was 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 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 transaction 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 transaction 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 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 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 stock was sold at an average price of $43.80, for a total value of $43,800.00.

Summit Midstream Trading Down 2.5 %

Shares of SMC opened at $37.72 on Wednesday. The firm has a 50-day moving average of $41.22. Summit Midstream Corporation has a 12-month low of $31.81 and a 12-month high of $45.89. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $401.71 million, a price-to-earnings ratio of -2.94 and a beta of 2.28.

Summit Midstream (NYSE:SMC) last released its quarterly 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of Summit Midstream in the fourth quarter valued at $57,000. Tower Research Capital LLC TRC boosted its holdings in Summit Midstream by 1,106.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock valued at $118,000 after acquiring an additional 2,854 shares during the period. SG Americas Securities LLC acquired a new position in Summit Midstream in the 4th quarter valued at about $159,000. EntryPoint Capital LLC purchased a new stake in Summit Midstream during the fourth quarter worth about $207,000. Finally, Barclays PLC acquired a new stake in shares of Summit Midstream during the third quarter worth about $194,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

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.