Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO 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 Wednesday, February 26th. The stock was sold at an average price of $41.96, for a total value of $41,960.00. Following the transaction, the chief executive officer now owns 243,326 shares in the company, valued at $10,209,958.96. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, February 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.63, for a total value of $42,630.00.
• On Thursday, February 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.23, for a total value 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 stock was 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.
• On Monday, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.43, for a total value of $43,430.00.
• On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.67, for a total value of $42,670.00.
• On Wednesday, February 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.78, for a total value of $42,780.00.
• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.04, for a total value of $41,040.00.
• On Friday, January 31st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.49, for a total value of $41,490.00.

Summit Midstream Stock Performance

SMC stock opened at $42.37 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a 1 year low of $17.26 and a 1 year high of $45.89. The firm has a market capitalization of $451.20 million, a price-to-earnings ratio of -3.31 and a beta of 2.37. The company has a 50-day moving average of $40.49.

Institutional Investors Weigh In On Summit Midstream

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new stake in shares of Summit Midstream in the fourth quarter valued at about $57,000. Tower Research Capital LLC TRC grew its stake in shares of Summit Midstream by 1,106.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock valued at $118,000 after buying an additional 2,854 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Summit Midstream by 18.9% in the fourth quarter. Cetera Investment Advisers now owns 21,856 shares of the company’s stock valued at $826,000 after buying an additional 3,472 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Summit Midstream by 56.8% in the fourth quarter. Jane Street Group LLC now owns 10,163 shares of the company’s stock valued at $384,000 after buying an additional 3,680 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Summit Midstream in the fourth quarter valued at about $159,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

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.