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 the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $35.61, for a total value of $35,610.00. Following the sale, the chief executive officer now directly owns 287,006 shares of the company’s stock, valued at $10,220,283.66. The trade was a 0.35 % 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, 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.

Summit Midstream Stock Performance

Shares of Summit Midstream stock opened at $36.03 on Wednesday. Summit Midstream Corporation has a one year low of $15.56 and a one year high of $40.75. The stock has a market cap of $383.72 million, a P/E ratio of -2.81 and a beta of 2.35. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s fifty day moving average price is $35.53.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC purchased a new position in shares of Summit Midstream during the 3rd quarter worth approximately $3,794,000. Geode Capital Management LLC acquired a new position in shares of Summit Midstream during the 3rd quarter worth $3,313,000. Fractal Investments LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at about $1,576,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Summit Midstream in the third quarter valued at about $1,311,000. Finally, Valeo Financial Advisors LLC acquired a new position in Summit Midstream during the third quarter worth about $529,000. 42.97% of the stock is owned by hedge funds and other 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.