Summit Midstream (NYSE:SMC) Announces Quarterly Earnings Results

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

Summit Midstream Price Performance

NYSE SMC traded up $0.67 during trading hours on Friday, reaching $37.49. The company's stock had a trading volume of 28,936 shares, compared to its average volume of 81,013. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream has a 1-year low of $17.26 and a 1-year high of $45.89. The firm has a 50-day moving average price of $41.20. The stock has a market capitalization of $399.23 million, a price-to-earnings ratio of -2.93 and a beta of 2.28.

Insider Buying and Selling at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $35.18, for a total value of $35,180.00. Following the sale, the chief executive officer now owns 265,006 shares of the company's stock, valued at approximately $9,322,911.08. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 33,000 shares of company stock valued at $1,324,990. Company insiders own 5.30% of the company's stock.

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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.