Summit Midstream (NYSE:SMC) Posts Earnings Results

Summit Midstream (NYSE:SMC) posted its quarterly earnings data 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%.

Summit Midstream Stock Performance

Shares of SMC stock traded down $1.07 during mid-day 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 current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $410.90 million, a price-to-earnings ratio of -3.01 and a beta of 2.28. The stock’s 50-day simple moving average is $41.19. Summit Midstream has a twelve month low of $31.81 and a twelve month high of $45.89.

Insider Activity at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of the stock in a transaction that occurred 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 $9,154,489.64. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 33,000 shares of company stock valued at $1,320,280 over the last 90 days. 5.30% of the stock is currently owned by corporate 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.