Summit Midstream executive VP Johnston sells $79,326 in stock

James David Johnston, Executive VP, GC, CCO, and Secretary at Summit Midstream Corp (SMC), sold 2,600 shares of the company’s common stock on October 1, 2026. The transaction totaled $79,326, with shares sold at a weighted average price of $30.51 each. The sale comes as SMC stock has delivered a strong 40% return over the past year, currently trading at $30.84 with a market capitalization of $422 million.

According to a recent SEC Form 4 filing, the shares were sold in multiple transactions at prices ranging from $29.85 to $30.75. The sale was conducted in compliance with a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling shares. Following this transaction, Mr. Johnston directly holds 72,757 shares of Summit Midstream Corp (SMC) common stock. InvestingPro analysis suggests the stock remains slightly undervalued, appearing on the platform’s Most Undervalued watchlist. Investors seeking deeper insights can access SMC’s comprehensive Pro Research Report, one of 1,400+ available for US equities.

In other recent news, Summit Midstream Corp. reported second-quarter results that exceeded Wall Street expectations, with adjusted earnings of $0.11 per share, defying analysts’ predictions of a $0.37 loss. The company’s revenue also surpassed forecasts, reaching $155.01 million against the anticipated $144.40 million. This performance was driven by stronger volumes in the Rockies and Mid-Con segments. In a separate development, Fitch Ratings upgraded Summit Midstream’s Long-Term Issuer Default Rating to ’B’ from ’B-’, citing improvements in the company’s financial profile. Fitch noted that leverage is expected to remain between 4.8x and 4.3x, while interest coverage is projected to be around 2.7x to 3.0x. Additionally, TD Cowen raised its price target for Summit Midstream to $43 from $39, maintaining a Buy rating despite the second-quarter EBITDA missing its estimate by approximately $5 million. The firm highlighted reduced liquids volumes in the Rockies and higher operating expenses in the Midcon segment as contributing factors. These developments reflect recent trends and expectations surrounding Summit Midstream.