Summit Midstream (NYSE:SMC) Releases Earnings Results

Summit Midstream (NYSE:SMC) posted its quarterly earnings results on Monday. The company reported ($2.19) 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

Summit Midstream stock traded down $1.07 during midday trading on Monday, reaching $38.59. The company’s stock had a trading volume of 175,244 shares, compared to its average volume of 72,474. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream has a fifty-two week low of $31.81 and a fifty-two week high of $45.89. The company has a market capitalization of $410.90 million, a price-to-earnings ratio of -3.01 and a beta of 2.28. The company’s 50 day simple moving average is $41.19.

Insider Transactions 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 Wednesday, March 5th. The stock was sold at an average price of $40.55, for a total transaction of $40,550.00. Following the sale, the chief executive officer now owns 238,326 shares of the company’s stock, valued at $9,664,119.30. The trade was a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 33,000 shares of company stock valued at $1,320,280 in the last ninety days. 5.30% of the stock is currently owned by company 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.