Summit Midstream (NYSE:SMC) Announces Quarterly Earnings Results

Summit Midstream (NYSE:SMC) announced its quarterly earnings data on Friday. The company reported ($2.40) earnings per share for the quarter, RTT News reports. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%. During the same period in the prior year, the business earned ($2.12) EPS.

Summit Midstream Stock Down 3.5 %

SMC stock opened at $36.18 on Friday. The stock has a fifty day moving average of $41.18 and a 200-day moving average of $37.91. Summit Midstream has a fifty-two week low of $31.81 and a fifty-two week high of $45.89. The company has a market capitalization of $385.23 million, a price-to-earnings ratio of -2.82 and a beta of 2.28. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33.

Insider Buying and Selling at Summit Midstream

In other news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $36.19, for a total value of $36,190.00. Following the completion of the transaction, the chief executive officer now directly owns 260,006 shares of the company’s stock, valued at $9,409,617.14. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 35,052 shares of company stock valued at $1,409,626 over the last three months. 5.30% of the stock is currently owned by insiders.

Summit Midstream Company Profile

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.