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 company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $35.82, for a total value of $35,820.00. Following the completion of the sale, the chief executive officer now directly owns 284,006 shares of the company’s stock, valued at $10,173,094.92. The trade was a 0.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.74, for a total transaction of $35,740.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 shares were sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Trading Up 3.8 %

Shares of NYSE:SMC opened at $37.35 on Friday. The stock has a fifty day moving average of $35.54. The company has a market capitalization of $397.78 million, a price-to-earnings ratio of -2.92 and a beta of 2.35. Summit Midstream Corporation has a 12-month low of $15.56 and a 12-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.

Hedge Funds Weigh In On Summit Midstream

Several large investors have recently modified their holdings of SMC. Barclays PLC acquired a new position in Summit Midstream in the third quarter worth $194,000. Jane Street Group LLC bought a new position in Summit Midstream in the 3rd quarter worth about $227,000. Valeo Financial Advisors LLC bought a new position in Summit Midstream in the 3rd quarter worth approximately $529,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Summit Midstream during the third quarter valued at $1,311,000. Finally, Fractal Investments LLC bought a new stake in shares of Summit Midstream during the third quarter valued at about $1,576,000. Institutional investors own 42.97% of the company’s stock.

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.