Summit Midstream (NYSE:SMC) Releases Earnings Results

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

Summit Midstream Stock Performance

Shares of Summit Midstream stock traded down $1.32 on Friday, reaching $36.18. The stock had a trading volume of 301,393 shares, compared to its average volume of 85,617. The business’s 50-day moving average price is $41.22 and its two-hundred day moving average price is $37.91. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. Summit Midstream has a fifty-two week low of $24.52 and a fifty-two week high of $45.89. The stock has a market cap of $385.23 million, a P/E ratio of -2.82 and a beta of 2.28.

Insider Activity at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $44.98, for a total transaction of $44,980.00. Following the completion of the transaction, the chief executive officer now directly owns 249,326 shares in the company, valued at $11,214,683.48. This represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 33,052 shares of company stock worth $1,335,646 in the last ninety days. 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.