Summit Midstream (NYSE:SMC) Announces Earnings Results

Summit Midstream (NYSE:SMC) posted its quarterly earnings results on Monday. The company reported ($2.19) earnings per share for the quarter, Zacks reports. The company had revenue of $107.02 million during the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%.

Summit Midstream Price Performance

Shares of Summit Midstream stock opened at $37.72 on Wednesday. The company has a 50-day moving average price of $41.22. Summit Midstream has a one year low of $31.81 and a one year high of $45.89. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $401.71 million, a price-to-earnings ratio of -2.94 and a beta of 2.28.

Insiders Place Their Bets

In other news, CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 34,000 shares of company stock worth $1,360,940. 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.