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

Posted by Adam Masters on Dec 4th, 2024

Summit Midstream Corporation (NYSE:SMC – Get Free Report) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $37.20, for a total transaction of $37,200.00. Following the completion of the transaction, the chief executive officer now directly owns 278,006 shares of the company’s stock, valued at approximately $10,341,823.20. This represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

On Monday, December 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.80, for a total value of $37,800.00.
On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.85, for a total value of $36,850.00.
On Monday, November 25th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.16, for a total value of $37,160.00.
On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.74, for a total value of $35,740.00.
On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.82, for a total transaction of $35,820.00.
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 stock was sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Stock Up 0.3 %

Shares of NYSE SMC traded up $0.12 during midday trading on Tuesday, reaching $38.00. 88,992 shares of the stock were exchanged, compared to its average volume of 51,249. The firm has a 50-day moving average price of $35.73. The company has a market capitalization of $404.70 million, a price-to-earnings ratio of -2.97 and a beta of 2.39. Summit Midstream Corporation has a twelve month low of $15.56 and a twelve month high of $40.75. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Institutional Trading of Summit Midstream

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC purchased a new stake in shares of Summit Midstream in the 3rd quarter valued at about $194,000. Geode Capital Management LLC acquired a new position in shares of Summit Midstream in the 3rd quarter valued at $3,313,000. Jane Street Group LLC purchased a new stake in Summit Midstream in the 3rd quarter valued at $227,000. Virtus Fund Advisers LLC acquired a new stake in Summit Midstream during the 3rd quarter worth $3,794,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in Summit Midstream in the third quarter valued at $1,311,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

About Summit Midstream

(Get Free Report)

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.