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

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction on 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. This trade represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 stock was sold at an average price of $35.74, for a total value 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 stock was sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Stock Performance

Shares of Summit Midstream stock opened at $37.35 on Friday. The firm’s 50-day moving average price is $35.54. Summit Midstream Corporation has a 12 month low of $15.56 and a 12 month high of $40.75. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33.

Hedge Funds Weigh In On Summit Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at about $194,000. Jane Street Group LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at about $227,000. Valeo Financial Advisors LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at about $529,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Summit Midstream during the 3rd quarter worth about $1,311,000. Finally, Fractal Investments LLC acquired a new stake in shares of Summit Midstream during the 3rd quarter worth about $1,576,000. 42.97% of the stock is currently 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.