Added to YB: 2024-04-10
Pitch date: 2024-04-09
SMLP [bullish]
Summit Midstream Corporation
+35.89%
current return
Author Info
No bio for this author
Company Info
Summit Midstream Corporation focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States.
Market Cap
$352.8M
Pitch Price
$28.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
10.96
P/E
-2.18
EV/Sales
4.82
Sector
Oil, Gas and Consumable Fuels
Category
N/A
Summit Midstream Partners: The Market Has Yet To Understand Its Recent Success
SMLP: Sold Utica assets to MPLX for $625M, paid off $295M credit facility. $325M cash for distributions or M&A. 2024 EBITDA $200M (was $280M). Remaining portfolio crude oil focused. $140M interest cost, $110M '23 DCF. Debt now $1B (-$320M), could save $35M interest. 60% FCF yield potential. Risks: Poor M&A/capital allocation. Upside: Debt paydown enables big distributions.
Read full article (5 min)