Summit Midstream Corporation (NYSE:SMC) CEO Sells $36,300.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $36.30, for a total transaction of $36,300.00. Following the completion of the sale, the chief executive officer now directly owns 271,170 shares in the company, valued at $9,843,471. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, March 19th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.68, for a total transaction of $37,680.00.
• On Monday, March 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $38.50, for a total transaction of $38,500.00.
• On Friday, March 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.47, for a total transaction of $37,470.00.
• On Wednesday, March 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.04, for a total transaction of $38,040.00.
• On Monday, March 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $38.52, for a total transaction of $38,520.00.
• On Friday, March 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $39.23, for a total transaction of $39,230.00.
• On Wednesday, March 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.55, for a total transaction of $40,550.00.
• On Monday, March 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.50, for a total transaction of $43,500.00.
• On Friday, February 28th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.28, for a total transaction of $44,280.00.
• On Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.96, for a total transaction of $41,960.00.

Summit Midstream Trading Down 3.5 %

SMC stock traded down $1.32 during trading on Friday, reaching $36.18. 301,393 shares of the stock were exchanged, compared to its average volume of 75,563. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average price of $41.22 and a 200-day moving average price of $37.91. Summit Midstream Corporation has a 1 year low of $31.81 and a 1 year high of $45.89. The firm has a market capitalization of $385.23 million, a price-to-earnings ratio of -2.82 and a beta of 2.28.

Summit Midstream (NYSE:SMC) last issued its earnings results on Friday, March 21st. The company reported ($2.40) EPS for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. During the same quarter in the previous year, the company earned ($2.12) EPS.

Institutional Investors Weigh In On Summit Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtus Fund Advisers LLC purchased a new stake in shares of Summit Midstream in the 3rd quarter valued at approximately $3,794,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Summit Midstream in the 4th quarter valued at approximately $3,829,000. Geode Capital Management LLC purchased a new stake in shares of Summit Midstream in the 3rd quarter valued at approximately $3,313,000. Graham Capital Wealth Management LLC purchased a new stake in shares of Summit Midstream in the 4th quarter valued at approximately $3,061,000. Finally, Eagle Global Advisors LLC raised its stake in shares of Summit Midstream by 131.7% in the 4th quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock valued at $2,794,000 after acquiring an additional 42,035 shares during the period. 42.97% of the stock is owned by hedge funds and other 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.