Crudely Midstream
Corporate contributor, research analyst, deep value, long only

Summit Midstream: A 10% Yield With Upside Potential

Summit Midstream Partners, LP (NYSE: SMLP) is a small MLP focused on gathering natural gas and oil in several basins across the United States. It was formed in 2009 by Energy Capital Partners, but did not IPO until 2012 when MLP-fever was growing. Since the IPO, it has grown tremendously both organically and through acquisitions, spreading into other basins to capitalize on the rise of shale oil and gas.

Overall, the business is levered to oil and natural gas production/prices, and does not have the same degree of safety like other midstream names that have storage tanks and interstate pipelines. SMLP is proud to boast 10.9% average annual distribution growth since inception and unit price outperformance of the Alerian

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