Summit Midstream (NYSE:SMC) Issues Earnings Results

Summit Midstream (NYSE:SMC) released its quarterly earnings results on Monday. The company reported ($2.19) earnings per share (EPS) for the quarter, Zacks reports. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%. The business had revenue of $107.02 million for the quarter.

Summit Midstream Stock Down 2.5 %

Shares of NYSE:SMC opened at $37.72 on Wednesday. The stock’s fifty day moving average is $41.22. Summit Midstream has a 12-month low of $31.81 and a 12-month high of $45.89. The company has a market cap of $401.71 million, a price-to-earnings ratio of -2.94 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 Activity

In related news, CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $35.18, for a total value of $35,180.00. Following the sale, the chief executive officer now directly owns 267,006 shares in the company, valued at $9,393,271.08. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 34,000 shares of company stock valued at $1,360,940. Company insiders own 5.30% of the company’s stock.

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.