SMC
Summit Midstream CorporationSMC
SMC
About: Summit Midstream Corp is a value-driven corporation focused on developing, owning and operating midstream energy infrastructure assets strategically located in unconventional resource basins, shale formations, in the continental U.S. It currently operates natural gas, crude oil and produced water gathering systems in four unconventional resource basins: the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which includes the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the liquids-rich Mesaverde formation as well as the emerging Mancos and Niobrara Shale formations.
Employees: 272
0
Funds holding %
of 7,407 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)
3,460% more call options, than puts
Call options by funds: $2.03M | Put options by funds: $57K
833% more first-time investments, than exits
New positions opened: 28 | Existing positions closed: 3
100% more funds holding in top 10
Funds holding in top 10: 1 [Q3] → 2 (+1) [Q4]
74% more funds holding
Funds holding: 34 [Q3] → 59 (+25) [Q4]
33% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 9
15% more capital invested
Capital invested by funds: $128M [Q3] → $148M (+$19.8M) [Q4]
2.43% more ownership
Funds ownership: 34.34% [Q3] → 36.77% (+2.43%) [Q4]
Research analyst outlook
We haven’t received any recent analyst ratings for SMC.
Financial journalist opinion
Based on 3 articles about SMC published over the past 30 days
Positive
Seeking Alpha
3 weeks ago
Summit Midstream: Likely Common Dividend Resumption Could Pop The Stock
Summit Midstream Corporation's Q4 results were decent, with adjusted EBITDA at $46.2M and free cash flow at $6.6M, aligning with expectations. 2025 guidance projects adjusted EBITDA between $245M-$280M, driven by well connections in the Rockies and the Moonrise Midstream acquisition. Free cash flow is expected to hit $100M, aiding deleveraging to a 3.5x leverage target and resumption of preferred dividends, potentially benefiting common shareholders.
Neutral
PRNewsWire
3 weeks ago
Summit Midstream Corporation Announces 2024 K-1 Tax Package Availability
HOUSTON , March 28, 2025 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) ("Summit", "SMC" or the "Corporation") announced today that its 2024 tax packages for Summit Midstream Partners, LP, including a final Schedule K-1, are now available online and may be accessed at https://partnerdatalink.com/Summit. For additional information or assistance, unitholders may also contact Partner DataLink via email at SummitK1Help@deloitte.com or via phone at (855) 375-4158 Monday through Friday from 8:00 a.m.
Positive
Seeking Alpha
3 weeks ago
Summit Midstream Continues To Ramp Up Scale
Summit Midstream has continued to find new opportunities to make bolt-on acquisitions to its portfolio. The company has cleaned up its balance sheet and its debt-to-adjusted EBITDA is in line with peers, but interest rates are incredibly high. The Series A payment resumption is a strong step in the company's path to drive future shareholder returns.
Negative
Zacks Investment Research
1 month ago
Summit Midstream Posts Q4 Loss, Eyes Growth With Acquisitions
SMC reports a wider y/y Q4 loss, revenue dip and EBITDA decline. It eyes growth through acquisitions and investments in 2025.
Neutral
Seeking Alpha
1 month ago
Summit Midstream Corporation (SMC) Q4 2024 Earnings Call Transcript
Summit Midstream Corporation (NYSE:SMC ) Q4 2024 Earnings Conference Call March 11, 2024 10:00 AM ET Company Participants Randall Burton - Director, Finance and Investor Relations Heath Deneke - President, CEO, and Chairman Bill Mault - CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. Welcome to the Summit Midstream Corporation Fourth Quarter 2024 Earnings Conference Call.
Neutral
PRNewsWire
1 month ago
Summit Midstream Corporation Reports Fourth Quarter and Full-Year 2024 Financial and Operating Results & Provides Full-Year 2025 Guidance
HOUSTON , March 10, 2025 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) ("Summit", "SMC" or the "Company") announced today its financial and operating results for fourth quarter and full-year 2024 and provided full-year 2025 financial guidance. Highlights Fourth quarter 2024 net loss of $24.8 million, adjusted EBITDA of $46.2 million, cash flow available for distributions ("Distributable Cash Flow" or "DCF") of $22.1 million and free cash flow ("FCF") of $6.6 million Reduced total leverage to 3.9x1 at year-end 2024 Successfully closed value- and credit-accretive acquisition of Tall Oak Midstream III Connected 23 wells during the fourth quarter, resulting in 156 wells connected in 2024 Active customer base with over 100 DUCs behind our systems and 125 to 185 wells expected in 2025 Closed the value- and credit-accretive bolt on acquisition of Moonrise Midstream in the DJ Basin on March 10, 2025 Reinstated cash dividend on the Series A Preferred Stock beginning March 15, 2025 Provided 2025 full-year financial guidance range2 of $245 million to $280 million in adjusted EBITDA and total capital expenditures of $65 million to $75 million Management Commentary Heath Deneke, President, Chief Executive Officer and Chairman, commented, "2024 was an eventful and pivotal year for Summit.
Neutral
PRNewsWire
1 month ago
Summit Midstream Corporation Announces the Acquisition of Moonrise Midstream and Provides DJ Basin Operational Update
HOUSTON , March 10, 2025 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) ("Summit", "SMC" or the "Company") announced today that its wholly owned subsidiary, Summit Midstream Holdings, LLC ("SMP Holdings"), has acquired Moonrise Midstream, LLC ("Moonrise" or "Moonrise Midstream") from Fundare Resources Company Holdco, LLC ("Fundare") for a total consideration of $90 million, including $70 million in cash and $20 million in SMC equity. Summit also provided an operational update for its broader DJ Basin position.
Negative
Seeking Alpha
1 month ago
Summit Midstream: Rough Ride Ahead
Summit Midstream's recent financial reorganization introduces a new major shareholder. The troubled past of Summit Midstream may lead to market mispricing compared to future prospects. The stock's volatility is heightened by the lack of historical performance under the current structure.
Neutral
PRNewsWire
1 month ago
Summit Midstream Corporation Announces Resumption of Preferred Dividend in First Quarter 2025
HOUSTON , Feb. 28, 2025 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) ("SMC" or the "Company") announced today that the board of directors of the Company, has declared a quarterly cash dividend on its Series A fixed-to-floating rate cumulative redeemable perpetual preferred stock (the "Series A Preferred Stock") for the period ended March 14, 2025. A cash dividend of $51.27 per share will be paid on the outstanding 65,508 shares on March 15, 2025 to preferred shareholders of record as of the close of business on March 3, 2025.
Neutral
PRNewsWire
3 months ago
Summit Midstream Corporation Announces Pricing of Offering of $250 Million of Additional 8.625% Senior Secured Second Lien Notes Due 2029
HOUSTON , Jan. 7, 2025 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) ("SMC" or the "Company") announced today that Summit Midstream Holdings, LLC (the "Issuer"), which is a subsidiary of the Company, has priced the previously announced offering (the "Offering") of $250.0 million in aggregate principal amount of additional 8.625% Senior Secured Second Lien Notes due 2029 (the "Additional Notes") at 103.375% of par, plus accrued and unpaid interest from July 26, 2024 to, but excluding, the issue date. The Additional Notes will be issued under the same indenture as the Issuer's $575.0 million in aggregate principal amount of 8.625% Senior Secured Second Lien Notes due 2029 (the "Existing Notes"), will have substantially identical terms as the Existing Notes, other than the issue date and issue price, and will form a single series and vote together with the Existing Notes.
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