Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells $40,800.00 in Stock

Posted by Hayley Millar on Jan 30th, 2025

Summit Midstream Corporation (NYSE:SMC – Get Free Report) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.80, for a total value of $40,800.00. Following the transaction, the chief executive officer now directly owns 264,326 shares of the company’s stock, valued at $10,784,500.80. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

On Thursday, January 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.86, for a total transaction of $42,860.00.
On Tuesday, January 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.06, for a total transaction of $42,060.00.
On Friday, January 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.11, for a total transaction of $40,110.00.
On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.98, for a total value of $37,980.00.
On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.63, for a total value of $37,630.00.
On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.60, for a total value of $37,600.00.
On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.50, for a total transaction of $37,500.00.
On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.81, for a total transaction of $37,810.00.
On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.49, for a total transaction of $37,490.00.
On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.52, for a total transaction of $36,520.00.

Summit Midstream Stock Performance

Shares of SMC opened at $40.99 on Thursday. Summit Midstream Corporation has a fifty-two week low of $15.56 and a fifty-two week high of $43.99. The firm has a market cap of $436.54 million, a P/E ratio of -3.20 and a beta of 2.37. The company has a fifty day simple moving average of $37.69. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33.

Summit Midstream (NYSE:SMC – Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($15.28) EPS for the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%. The business had revenue of $102.42 million during the quarter.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Summit Midstream during the fourth quarter worth approximately $159,000. Barclays PLC acquired a new stake in shares of Summit Midstream during the 3rd quarter worth $194,000. Jane Street Group LLC purchased a new position in shares of Summit Midstream in the 3rd quarter worth $227,000. Valeo Financial Advisors LLC acquired a new position in Summit Midstream in the third quarter valued at $529,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Summit Midstream during the third quarter valued at about $1,311,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

Summit Midstream Company Profile

(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.