Summit Midstream (NYSE:SMC) Releases Quarterly Earnings Results

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

Summit Midstream Stock Performance

Shares of Summit Midstream stock traded down $1.07 during trading on Monday, hitting $38.59. 175,244 shares of the stock traded hands, compared to its average volume of 72,474. The company has a market capitalization of $410.90 million, a PE ratio of -3.01 and a beta of 2.28. The business’s fifty day moving average is $41.19. Summit Midstream has a twelve month low of $31.81 and a twelve 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.

Insider Buying and Selling

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.95, for a total transaction of $35,950.00. Following the transaction, the chief executive officer now directly owns 268,006 shares of the company’s stock, valued at $9,634,815.70. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 33,000 shares of company stock worth $1,320,280. 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.