Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells $42,630.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $42.63, for a total transaction of $42,630.00. Following the completion of the sale, the chief executive officer now owns 245,326 shares of the company’s stock, valued at $10,458,247.38. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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.
• 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 transaction 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 transaction 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 transaction 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 transaction of $43,800.00.
• On Monday, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.43, for a total transaction of $43,430.00.
• On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.67, for a total transaction of $42,670.00.
• On Wednesday, February 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.78, for a total transaction of $42,780.00.
• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.04, for a total transaction 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 transaction of $41,490.00.

Summit Midstream Price Performance

SMC stock opened at $45.00 on Friday. 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 Corporation has a 52-week low of $17.26 and a 52-week high of $45.89. The company’s 50-day moving average price is $40.69. The company has a market capitalization of $479.21 million, a PE ratio of -3.51 and a beta of 2.37.

Institutional Investors Weigh In On Summit Midstream

A number of hedge funds have recently bought and sold shares of the company. Virtus Fund Advisers LLC acquired a new position in shares of Summit Midstream during the third quarter valued at about $3,794,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Midstream during the fourth quarter valued at about $3,829,000. Geode Capital Management LLC acquired a new position in shares of Summit Midstream during the third quarter valued at about $3,313,000. Graham Capital Wealth Management LLC acquired a new position in shares of Summit Midstream during the fourth quarter valued at about $3,061,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Summit Midstream during the fourth quarter valued at about $2,321,000. 42.97% of the stock is currently owned by institutional investors.

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.