Summit Midstream (NYSE:SMC) Releases Earnings Results

Summit Midstream (NYSE:SMC) issued its quarterly earnings data on Friday. The company reported ($2.40) earnings per share for the quarter, RTT News reports. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%. During the same quarter in the prior year, the firm earned ($2.12) EPS.

Summit Midstream Price Performance

NYSE SMC traded down $1.32 on Friday, reaching $36.18. 299,292 shares of the stock traded hands, compared to its average volume of 75,563. 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. The firm’s fifty day simple moving average is $41.22 and its 200 day simple moving average is $37.91. The company has a market cap of $385.23 million, a price-to-earnings ratio of -2.82 and a beta of 2.28.

Insider Activity

In related news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $36.19, for a total transaction of $36,190.00. Following the completion of the sale, the chief executive officer now directly owns 260,006 shares in the company, valued at approximately $9,409,617.14. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 33,052 shares of company stock worth $1,335,646 over the last 90 days. 5.30% of the stock is currently owned by company insiders.

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.