Summit Midstream (NYSE:SMC) Posts Earnings Results

Summit Midstream (NYSE:SMC) posted its earnings results on Friday. The company reported ($2.40) EPS 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 in the prior year, the company earned ($2.12) EPS.

Summit Midstream Stock Down 3.5 %

Shares of NYSE:SMC opened at $36.18 on Friday. The stock has a market cap of $385.23 million, a price-to-earnings ratio of -2.82 and a beta of 2.28. The business’s 50 day moving average is $41.18 and its 200 day moving average is $37.91. Summit Midstream has a 12-month low of $31.81 and a 12-month high of $45.89. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20.

Insider Buying and Selling at Summit Midstream

In other news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 260,006 shares in the company, valued at $9,409,617.14. The trade was a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 35,052 shares of company stock worth $1,409,626. Corporate 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.