Summit Midstream (NYSE:SMC) Issues Earnings Results

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

Summit Midstream Stock Down 3.5 %

NYSE:SMC opened at $36.18 on Friday. Summit Midstream has a 1-year low of $31.81 and a 1-year high of $45.89. The company has a 50-day moving average of $41.18 and a 200 day moving average of $37.90. The firm has a market cap of $385.23 million, a PE ratio of -2.82 and a beta of 2.28. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33.

Insider Buying and Selling

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $36.19, for a total value of $36,190.00. Following the completion of the transaction, the chief executive officer now directly owns 260,006 shares in the company, valued at approximately $9,409,617.14. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 35,052 shares of company stock valued at $1,409,626 over the last three months. 5.30% of the stock is 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.