Summit Midstream Corporation CEO J Heath Deneke Sells Shares

On January 6th, Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the company's stock. The shares were sold at an average price of $37.81 each, resulting in a total value of $37,810. Following this sale, Deneke now owns 254,006 shares of Summit Midstream, amounting to about $9,603,966.86. This transaction represented a 0.39% reduction in his ownership of the stock. Details of the sale were filed with the SEC and can be accessed through their official documents.

In addition to the recent sale, J Heath Deneke has made several other transactions involving Summit Midstream shares:

• On January 2nd, he sold another 1,000 shares at $37.49 each, totaling $37,490.
• On December 30th, he sold 1,000 shares at $36.52 each, for a total of $36,520.
• On December 26th, he sold 1,000 shares at $36.19, amounting to $36,190.
• On December 23rd, 1,000 shares were sold at $34.94 each, totaling $34,940.
• On December 20th, he sold 1,000 shares at $34.97 each, for $34,970.
• On December 18th, he sold 1,000 shares at $35.18, which was a total of $35,180.
• On December 16th, he sold 1,000 shares again at $35.18 for $35,180.
• On December 13th, 1,000 shares were sold at an average price of $35.95, totaling $35,950.
• On December 11th, he sold 1,000 shares at $37.09, resulting in $37,090.
• On December 9th, he sold 1,000 shares at $37.22 each, totaling $37,220.

Summit Midstream Stock Performance

As of the last trading session, shares of NYSE:SMC opened at $37.81. The stock's 50-day moving average stands at $36.28. Summit Midstream has a market capitalization of approximately $402.64 million and a price-to-earnings ratio of -2.95, showcasing a beta of 2.37. The company carries a debt-to-equity ratio of 1.20. Currently, it has a current ratio of 1.33 and a quick ratio of 1.33. The 12-month low for the stock is $15.56, while its 12-month high is $40.75.

Institutional Investor Interest

Many institutional investors have altered their holdings in Summit Midstream recently. Notably, Barclays PLC entered a new position in the company worth about $194,000 during the third quarter. Other investors include Jane Street Group LLC, which acquired shares valued at $227,000, and Valeo Financial Advisors LLC, which purchased a stake worth $529,000. Pekin Hardy Strauss Inc. also acquired a new position for about $1,311,000, while Fractal Investments LLC invested $1,576,000 in the company. Collectively, institutional investors hold 42.97% of Summit Midstream's stock.

About Summit Midstream

Summit Midstream Corporation is committed to owning, developing, and operating midstream energy infrastructure assets primarily in shale formations across the continental United States. The company runs systems for gathering natural gas, crude oil, and produced water in four significant unconventional resource basins: the Williston Basin in North Dakota (including the Bakken and Three Forks shale formations), the Denver-Julesburg Basin (comprising the Niobrara and Codell shale formations in Colorado and Wyoming), the Fort Worth Basin in Texas (containing the Barnett Shale), and the Piceance Basin in Colorado (which includes the Mesaverde formation, along with the emerging Mancos and Niobrara shales).

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