Summit Midstream (NYSE:SMC) Posts Earnings Results

Summit Midstream (NYSE:SMC) issued its earnings results on Friday. The company reported ($2.40) earnings per share (EPS) 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 quarter in the previous year, the business earned ($2.12) EPS.

Summit Midstream Stock Down 3.5 %

Shares of SMC opened at $36.18 on Friday. The firm has a market capitalization of $385.23 million, a P/E ratio of -2.82 and a beta of 2.28. Summit Midstream has a 12-month low of $31.81 and a 12-month high of $45.89. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average price of $41.18 and a 200-day moving average price of $37.90.

Insider Activity

In other news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $34.94, for a total transaction of $34,940.00. Following the completion of the sale, the chief executive officer now directly owns 262,006 shares of the company’s stock, valued at approximately $9,154,489.64. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 35,052 shares of company stock valued at $1,409,626. 5.30% of the stock is currently owned by company insiders.

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.