Added to YB: 2024-05-09
Pitch date: 2024-05-07
SMLP [bullish]
Summit Midstream Corporation
+8.71%
current return
Author Info
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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
$35.00
Price Target
60.00 (+58%)
Dividend
N/A
EV/EBITDA
10.96
P/E
-2.18
EV/Sales
4.82
Sector
Oil, Gas and Consumable Fuels
Category
value
First Portfolio Position - Summit Midstream Partners, LP
SMLP: Undervalued natgas MLP. Streamlined via asset sales, reducing debt. Pro forma EV $1.1B, 5.9x 2024E EBITDA of $185M vs peers at 8-11x. Upside: Planned C-corp conversion, potential dividend reinstatement. Double E alone may justify mkt cap at 10.5x EBITDA. $60+ PT for 80%+ return.
Read full article (4 min)