A substantial insider sell was reported on May 17, by Jerry L Peters, Director at Summit Midstream Partners (NYSE:SMLP), based on the recent SEC filing.
What Happened: A Form 4 filing with the U.S. Securities and Exchange Commission on Friday outlined that Peters executed a sale of 10,000 shares of Summit Midstream Partners with a total value of $340,300.
Summit Midstream Partners’s shares are actively trading at $33.72, experiencing a down of 0.0% during Friday’s morning session.
All You Need to Know About Summit Midstream Partners
Summit Midstream Partners LP is a United States-based energy solutions provider involved in the oil and gas industry. The company develops, owns, and operates midstream energy infrastructure assets. The company conduct and reports operations in the midstream energy industry through five reportable segments: Northeast, Rockies, Permian, Piceance, and Barnett. It offers systems that gather natural gas from pad sites, wells, and central receipt points connected to the company’s systems with provisions to supply to processing plants, contractors, and end-users. The Majority of its assets are located in the producing areas of unconventional resource basins in the continental United States. It derives the majority of its revenues from the Piceance.
Key Indicators: Summit Midstream Partners’s Financial Health
Revenue Growth: Summit Midstream Partners’s revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 5.66%. This indicates a substantial increase in the company’s top-line earnings. When compared to others in the Energy sector, the company excelled with a growth rate higher than the average among peers.
Evaluating Earnings Performance:
Gross Margin: The company shows a low gross margin of 30.13%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
Earnings per Share (EPS): Summit Midstream Partners’s EPS is significantly higher than the industry average. The company demonstrates a robust bottom-line performance with a current EPS of 12.05.
Debt Management: Summit Midstream Partners’s debt-to-equity ratio stands notably higher than the industry average, reaching 1.36. This indicates a heavier reliance on borrowed…
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