Summit Midstream Partners Shows Its Continued Dedication To Shareholders

The Value Portfolio
Investing Group Leader

Summary

  • Summit Midstream Partners plans to convert to a C-corp with a 1:1 stock conversion, expected to close in the second half of 2024.
  • The company maintains strong assets with an over 85% fixed fee-based gross margin, focusing on natural gas and oil transportation.
  • Despite utilization issues in some segments, SMLP is committed to driving shareholder returns by paying down debt and optimizing cash flow.

Drilling platform in Baku, Azerbaijan.

AlizadaStudios

Summit Midstream Partners (SMLP) first watched its share price collapse in the mid-2014 oil price collapse, followed by COVID-19 having a massive impact. The company's share price has recovered by more than 50% from its mid-2020 lows, but it remains well below

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This article was written by

The Value Portfolio
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The Value Portfolio specializes in building retirement portfolios and utilizes a fact-based research strategy to identify investments. This includes extensive readings of 10Ks, analyst commentary, market reports, and investor presentations. He invests real money in the stocks he recommends.

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Analyst’s Disclosure:I/we have a beneficial long position in the shares of SMLP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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