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

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $34.67, for a total value of $34,670.00. Following the transaction, the chief executive officer now owns 266,170 shares of the company’s stock, valued at approximately $9,228,113.90. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, March 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.33, for a total transaction of $35,330.00.
• On Monday, March 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.32, for a total transaction of $36,320.00.
• On Friday, March 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.30, for a total value of $36,300.00.
• On Wednesday, March 19th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were 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 shares were 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 stock was 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 stock was sold at an average price of $38.04, for a total value 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 value of $38,520.00.
• On Friday, March 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 shares were sold at an average price of $40.55, for a total value of $40,550.00.

Summit Midstream Trading Down 3.4 %

Shares of SMC traded down $1.20 during midday trading on Friday, reaching $34.25. The company had a trading volume of 61,617 shares, compared to its average volume of 76,895. Summit Midstream Corporation has a 1-year low of $31.81 and a 1-year high of $45.89. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The firm has a 50 day simple moving average of $41.01 and a 200-day simple moving average of $37.87. The stock has a market cap of $638.50 million, a PE ratio of -2.67 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in Summit Midstream in the fourth quarter valued at $247,000. OMERS ADMINISTRATION Corp acquired a new stake in Summit Midstream in the 4th quarter valued at approximately $382,000. Millennium Management LLC lifted its stake in Summit Midstream by 599.9% during the 4th quarter. Millennium Management LLC now owns 48,610 shares of the company’s stock worth $1,836,000 after acquiring an additional 41,665 shares in the last quarter. Eagle Global Advisors LLC grew its holdings in shares of Summit Midstream by 131.7% in the fourth quarter. Eagle Global Advisors LLC now owns 73,962 shares of the company’s stock valued at $2,794,000 after purchasing an additional 42,035 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Summit Midstream in the fourth quarter valued at $354,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

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.