Summit Midstream Corporation (SMC)

Over the past six months, Summit Midstream Corp. stock experienced a decline of 29.31% from January 6, 2025, to January 2, 2026, but has seen a 9.57% increase over the past six months. In November 2025, SMC's stock gained following its Q3 2025 results. In December 2025, Noble Capital initiated coverage of Summit Midstream with an "outperform" rating. SMC's Q2 loss narrowed year-over-year in August 2025, though the stock fell after the report. The company transitioned from an MLP to a C-corporation on August 1, 2024, to simplify its structure and boost investor appeal.

Demand seasonality for Summit Midstream Corporation's products and services is influenced by the demand for natural gas, crude oil, and produced water gathering and transportation. Natural gas demand increases during colder months for heating and warmer months for electricity generation. The company's revenue is generated under long-term, fee-based gathering agreements with minimum volume commitments, providing revenue stability. SMC focuses on connecting new wells and maximizing existing assets to maintain and grow volumes, aiming to insulate itself from direct, short-term demand seasonality.

Summit Midstream Corporation, based in Houston, Texas, focuses on developing, owning, and operating midstream energy infrastructure assets, primarily in unconventional resource basins across the continental United States. The company operates in the oil and gas midstream industry, providing natural gas, crude oil, and produced water gathering systems, as well as natural gas transmission infrastructure. They offer gathering, compression, processing, and transportation services under long-term, fee-based agreements and have an equity investment in the Double E Pipeline, LLC.

Summit Midstream Corporation operates in five unconventional resource basins within the continental United States, including the Williston Basin (North Dakota), Denver-Julesburg (DJ) Basin (Colorado and Wyoming), Fort Worth Basin (Texas), Piceance Basin (Colorado), and Arkoma Basin (Oklahoma). Additionally, SMC has a presence in the Delaware Basin in Texas through its equity investment in Double E Pipeline, LLC.

Summit Midstream Corporation's reputation has been tied to its financial performance, strategic restructuring, and recovery efforts. The transition to a C-corporation and acquisitions like Tall Oak Midstream III and Moonrise Midstream aimed to strengthen operations. Challenges included a natural gas pricing downturn, leading to financial stress. The suspension of common stock dividends suggests the company is in a recovery phase, with investment risk considered elevated.

Summit Midstream Corporation's ownership includes institutional, insider, and retail investors. Institutional investors own approximately 26.39% to 35.81% of the company's stock, with major shareholders including Invesco Ltd., BlackRock, Inc., and Vanguard Group Inc. Retail investors hold a significant portion, with estimates ranging from 58.14% to 70.62%. Insiders own approximately 5.30% to 17.54% of the stock, with the CEO, J. Heath Deneke, directly owning 2.17% of the company's shares.