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

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.74, for a total value of $35,740.00. Following the completion of the sale, the chief executive officer now owns 282,006 shares of the company’s stock, valued at approximately $10,078,894.44. This represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.82, for a total value 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 transaction of $35,610.00.

Summit Midstream Price Performance

Shares of NYSE:SMC traded up $1.35 during trading on Friday, reaching $37.35. 86,883 shares of the company’s stock traded hands, compared to its average volume of 51,206. 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’s 50 day moving average is $35.49. Summit Midstream Corporation has a 12 month low of $15.56 and a 12 month high of $40.75. The stock has a market cap of $397.74 million, a PE ratio of -2.92 and a beta of 2.35.

Institutional Trading of Summit Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in SMC. Valeo Financial Advisors LLC acquired a new position in shares of Summit Midstream during the third quarter valued at approximately $529,000. Fractal Investments LLC bought a new stake in shares of Summit Midstream in the 3rd quarter worth $1,576,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Summit Midstream in the third quarter valued at $1,311,000. Virtus Fund Advisers LLC bought a new position in Summit Midstream during the third quarter valued at about $3,794,000. Finally, Jane Street Group LLC acquired a new position in Summit Midstream during the third quarter worth about $227,000. 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.