Summit Midstream (NYSE:SMC) Posts Earnings Results

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

Summit Midstream Trading Down 2.7 %

SMC traded down $1.07 during midday trading on Monday, hitting $38.59. The company’s stock had a trading volume of 175,244 shares, compared to its average volume of 72,474. Summit Midstream has a 52-week low of $31.81 and a 52-week high of $45.89. The firm has a 50-day simple moving average of $41.19. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $410.90 million, a price-to-earnings ratio of -3.01 and a beta of 2.28.

Insider Buying and Selling

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $40.55, for a total transaction of $40,550.00. Following the transaction, the chief executive officer now owns 238,326 shares of the company’s stock, valued at $9,664,119.30. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 33,000 shares of company stock valued at $1,320,280. Insiders own 5.30% of the company’s stock.

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.