Summit Midstream (NYSE:SMC) Announces Quarterly Earnings Results

Summit Midstream (NYSE:SMC) announced its quarterly earnings results on Friday. The company reported ($2.40) earnings per share (EPS) 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 business posted ($2.12) earnings per share.

Summit Midstream Stock Performance

Summit Midstream stock traded down $1.32 on Friday, hitting $36.18. The company’s stock had a trading volume of 301,393 shares, compared to its average volume of 85,617. The firm has a market cap of $385.23 million, a P/E ratio of -2.82 and a beta of 2.28. 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 company has a fifty day moving average price of $41.22 and a 200-day moving average price of $37.91. Summit Midstream has a one year low of $24.52 and a one year high of $45.89.

Insider Buying and Selling at Summit Midstream

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $36.19, for a total value of $36,190.00. Following the sale, the chief executive officer now owns 260,006 shares of the company’s stock, 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 SEC, which can be accessed through this link. Insiders have sold 33,052 shares of company stock valued at $1,335,646 in the last 90 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.