SMLP - Summit Midstream Partners, LP

NYSE - NYSE Delayed Price. Currency in USD
0.8700
-0.0156 (-1.76%)
At close: 4:00PM EDT
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Relative Strength Index (RSI)

Relative Strength Index (RSI)

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close0.8856
Open0.8310
Bid0.0000 x 2200
Ask1.5000 x 1000
Day's Range0.8200 - 0.8900
52 Week Range0.5000 - 8.0000
Volume128,179
Avg. Volume655,501
Market Cap82.266M
Beta (5Y Monthly)3.46
PE Ratio (TTM)N/A
EPS (TTM)-4.1170
Earnings DateAug 07, 2020 - Aug 11, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateFeb 06, 2020
1y Target Est0.90
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
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  • Summit Midstream Partners LP (SMLP) Q1 2020 Earnings Call Transcript
    Motley Fool

    Summit Midstream Partners LP (SMLP) Q1 2020 Earnings Call Transcript

    With me today to discuss our first quarter of 2020 financial and operating results is Heath Deneke, our President and Chief Executive Officer; Marc Stratton, our Chief Financial Officer, along with other members of our senior management team. Look, I'm very excited about the definitive agreements we signed to acquire Summit Investments, which is the owner of our general partner.

  • Thomson Reuters StreetEvents

    Edited Transcript of SMLP earnings conference call or presentation 8-May-20 2:00pm GMT

    Q1 2020 Summit Midstream Partners LP Earnings Call

  • Summit Midstream Partners, LP Reports First Quarter 2020 Financial and Operating Results
    PR Newswire

    Summit Midstream Partners, LP Reports First Quarter 2020 Financial and Operating Results

    Summit Midstream Partners, LP (NYSE: SMLP) announced today its financial and operating results for the three months ended March 31, 2020, including net income of $5.3 million, adjusted EBITDA of $66.1 million and DCF of $34.2 million. Operated natural gas volume throughput averaged 1,281 MMcf/d and liquids volume throughput averaged 98 Mbbl/d in the quarter. Natural gas volume throughput benefitted from the on-time commissioning of a five-well pad site behind our Utica Shale gathering system in mid-March 2020. This pad site is generating aggregate production rates in excess of 160 MMcf/d, which exceeded the expectations set forth in our original financial guidance by more than 15%. We expect this system will be a growth driver for us over the next several quarters as natural gas forward pricing has strengthened in the second half of 2020 and will incentivize upstream activity in this and other natural gas-focused basins in which we operate.

  • Summit Midstream Partners, LP to Acquire Summit Midstream Partners, LLC, the Owner of its General Partner, in Transformational Simplification Transaction; Suspends Common & Series A Preferred Unit Distributions; Provides Updated 2020 Guidance and Preliminary 1Q 2020 Results; Schedules 1Q 2020 Earnings Call
    PR Newswire

    Summit Midstream Partners, LP to Acquire Summit Midstream Partners, LLC, the Owner of its General Partner, in Transformational Simplification Transaction; Suspends Common & Series A Preferred Unit Distributions; Provides Updated 2020 Guidance and Preliminary 1Q 2020 Results; Schedules 1Q 2020 Earnings Call

    Summit Midstream Partners, LP (NYSE: SMLP) announced today that it has entered into a definitive agreement with Energy Capital Partners II, LLC ("ECP") to acquire Summit Midstream Partners, LLC ("Summit Investments"), the privately held company that indirectly owns SMLP's general partner, Summit Midstream GP, LLC (the "GP"), as well as 5.9 million SMLP common units owned separately by ECP, for $35 million in cash plus warrants covering 10 million SMLP common units (the "GP Buy-in Transaction"). Pursuant to terms of the GP Buy-in Transaction, at closing, ECP will loan the full $35 million of cash proceeds to SMLP under a first-lien senior secured credit agreement which will bear interest at 8.0% per annum and the principal on which will be paid at maturity on March 31, 2021 (the "ECP Loan"). SMLP intends to utilize the proceeds of the ECP Loan to enhance its liquidity position and for general corporate purposes. The acquisition will result in a more simplified corporate structure whereby Summit Investments, and all of its subsidiaries, will become wholly owned subsidiaries of SMLP, and SMLP will be governed by a board consisting of a majority of independent directors.

  • Moody's

    Summit Midstream Partners Holdings, LLC -- Moody's downgrades Summit Midstream Partners to B2 CFR, negative outlook

    Moody's Investors Service (Moody's) downgraded Summit Midstream Partners, LP's (SMLP) Corporate Family Rating (CFR) to B2 from Ba3, Probability of Default Rating to B2-PD from Ba3-PD, perpetual preferred units rating to Caa2 from B3 and Speculative Grade Liquidity (SGL) Rating to SGL-4 from SGL-3. Moody's concurrently downgraded Summit Midstream Holdings, LLC's (Summit) senior unsecured notes rating to Caa1 from B1.

  • PBF Logistics (PBFX) Catches Eye: Stock Jumps 9.3%
    Zacks

    PBF Logistics (PBFX) Catches Eye: Stock Jumps 9.3%

    PBF Logistics (PBFX) saw a big move last session, as its shares jumped more than 9% on the day, amid huge volumes.

  • Summit Midstream Partners, LP Receives Continued Listing Standard Notice from NYSE
    PR Newswire

    Summit Midstream Partners, LP Receives Continued Listing Standard Notice from NYSE

    Summit Midstream Partners, LP (NYSE: SMLP) announced that on April 10, 2020, it received a formal notice from the New York Stock Exchange ("NYSE") indicating noncompliance with the continued listing standard set forth in Rule 802.01C of the NYSE Listed Company Manual because the average closing price of SMLP's common units had fallen below $1.00 per unit over a period of 30 consecutive trading days, which is the minimum average unit price for continued listing on the NYSE. SMLP has six months following the receipt of the formal noncompliance notice to cure the deficiency and regain compliance. During this period, SMLP's common units will continue trading on the NYSE under its existing ticker symbol, with the addition of a suffix indicating the "below criteria" status of its common units, as "SMLP.BC."

  • ExxonMobil Gets Regulatory Nod for Double E Gas Pipeline
    Zacks

    ExxonMobil Gets Regulatory Nod for Double E Gas Pipeline

    ExxonMobil's (XOM) Double E Pipeline is set to transport natural gas from the northern Delaware Basin in Eddy County to Waha, TX.

  • Thomson Reuters StreetEvents

    Edited Transcript of SMLP earnings conference call or presentation 28-Feb-20 3:00pm GMT

    Q4 2019 Summit Midstream Partners LP Earnings Call

  • Summit Midstream Partners, LP Files 2019 Annual Report on Form 10-K
    PR Newswire

    Summit Midstream Partners, LP Files 2019 Annual Report on Form 10-K

    Summit Midstream Partners, LP (NYSE: SMLP) announced today that it has filed its 2019 Annual Report on Form 10-K with the Securities and Exchange Commission. This report contains SMLP's audited financial statements for the fiscal year ended December 31, 2019. A copy of the report is available for viewing and downloading on SMLP's website at www.summitmidstream.com.

  • Summit Midstream Partners, LP Announces 2019 K-1 Tax Package Availability
    PR Newswire

    Summit Midstream Partners, LP Announces 2019 K-1 Tax Package Availability

    Summit Midstream Partners, LP (NYSE: SMLP) announced today that its 2019 tax packages, including the Schedule K-1, are now available online and may be accessed at https://partnerdatalink.com/Summit. SMLP will begin mailing the 2019 tax packages to unitholders on Tuesday, March 3, 2020.

  • Summit Midstream Partners, LP Reports Fourth Quarter and Full-Year 2019 Financial Results & Provides 2020 Financial Guidance
    PR Newswire

    Summit Midstream Partners, LP Reports Fourth Quarter and Full-Year 2019 Financial Results & Provides 2020 Financial Guidance

    Summit Midstream Partners, LP (NYSE: SMLP) announced today its financial and operating results for the three months ended December 31, 2019, including a net loss of $327.1 million, adjusted EBITDA of $77.5 million, DCF of $47.1 million, and a quarterly distribution coverage ratio of 4.0x. Net loss for the quarter was primarily related to a $336.7 million non-cash impairment associated with our equity investments in Ohio Gathering and Ohio Condensate due to an expected decrease in customer activity as a result of lower forward commodity prices. Net loss also included a $14.2 million non-cash impairment related to the $12.0 million sale of a natural gas gathering and processing sub-system in the Piceance Basin ("RRG West") in December 2019, and $5.7 million of restructuring, severance and transaction expenses associated with the November 2019 DPPO amendment and our ongoing initiative to reduce our cost structure.

  • Summit Midstream Partners, LP Announces Fourth Quarter 2019 Distribution and Schedules Fourth Quarter 2019 Earnings Call
    PR Newswire

    Summit Midstream Partners, LP Announces Fourth Quarter 2019 Distribution and Schedules Fourth Quarter 2019 Earnings Call

    Summit Midstream Partners, LP (NYSE: SMLP) announced today that the board of directors of its general partner, Summit Midstream GP, LLC, has declared a quarterly cash distribution of $0.125 per unit on all of its outstanding common units for the quarter ended December 31, 2019, or $0.50 per unit on an annualized basis. This distribution represents a 56.5% reduction from the previous quarter, and will be paid on February 14, 2020, to unitholders of record as of the close of business on February 7, 2020.

  • Midstream co. moving HQ from The Woodlands to downtown Houston
    American City Business Journals

    Midstream co. moving HQ from The Woodlands to downtown Houston

    Summit Midstream Partners LP (NYSE: SMLP) will move its corporate headquarters from The Woodlands to downtown Houston on March 1, according to a press release. The midstream energy infrastructure company will occupy the 41st and 42nd floors of One Shell Plaza, at 910 Louisiana St. Summit's current headquarters office is at 1790 Hughes Landing Blvd., Suite 500, in The Woodlands. Summit moved to The Woodlands from Dallas in 2015.

  • Summit Midstream Partners, LP Announces Relocation of Corporate Headquarters to Downtown Houston, Texas
    PR Newswire

    Summit Midstream Partners, LP Announces Relocation of Corporate Headquarters to Downtown Houston, Texas

    Summit Midstream Partners, LP (NYSE: SMLP) announced today that, effective March 1, 2020, it will relocate its corporate headquarters from The Woodlands, Texas to downtown Houston, Texas. In addition to relocating corporate teams from The Woodlands, this move will also include a relocation of Summit's Finance and Accounting functions currently located in Atlanta, Georgia, where the company was founded. This decision represents an opportunity to enhance Summit's corporate culture and effectiveness by bringing its employees together in a single location while significantly reducing the cost associated with operating multiple corporate office locations.

  • Summit Midstream Partners, LP Announces Agreement with TPG for Financing Solution of Double E Pipeline
    PR Newswire

    Summit Midstream Partners, LP Announces Agreement with TPG for Financing Solution of Double E Pipeline

    Summit Midstream Partners, LP (NYSE: SMLP) announced today that it has entered into agreements with TPG, a global alternative asset firm ("TPG"), for the purchase of up to $80 million of redeemable, preferred interests in Summit Permian Transmission Holdco, LLC ("Permian Holdco"), a newly created, unrestricted subsidiary of SMLP that indirectly owns SMLP's 70% interest in Double E Pipeline, LLC ("Double E"). In connection with the transaction, TPG will fund the next $80 million of Permian Holdco's capital calls associated with Double E. The investment by TPG will be made by TPG Energy Solutions ("TES"), the firm's energy-specific structured equity vehicle.

  • Alerian Index Series December 2019 Index Review
    PR Newswire

    Alerian Index Series December 2019 Index Review

    Alerian announced the results of the December quarterly review for the Alerian Index Series. All changes will be implemented as of the close of business on Friday, December 20, 2019.

  • Thomson Reuters StreetEvents

    Edited Transcript of SMLP earnings conference call or presentation 8-Nov-19 3:00pm GMT

    Q3 2019 Summit Midstream Partners LP Earnings Call

  • Summit Midstream Partners, LP Announces Series A Preferred Distribution
    PR Newswire

    Summit Midstream Partners, LP Announces Series A Preferred Distribution

    Summit Midstream Partners, LP (NYSE: SMLP) announced today that the board of directors of its general partner, Summit Midstream GP, LLC, has declared a distribution of $47.50 per Series A Preferred Unit, which will be paid on December 16, 2019 to holders of record at the close of business on December 2, 2019.

  • Summit Midstream Partners, LP Reports Third Quarter 2019 Financial Results
    PR Newswire

    Summit Midstream Partners, LP Reports Third Quarter 2019 Financial Results

    - Third quarter 2019 net loss of $10.6 million , adjusted EBITDA of $72.0 million and Distributable Cash Flow ("DCF") of $41.7 million - SMLP reported a distribution coverage ratio of 1.75x for ...

  • Is Summit Midstream Partners LP (SMLP) Going To Burn These Hedge Funds ?
    Insider Monkey

    Is Summit Midstream Partners LP (SMLP) Going To Burn These Hedge Funds ?

    Is Summit Midstream Partners LP (NYSE:SMLP) a good stock to buy right now? We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. The […]

  • Summit Midstream Partners, LP Announces Third Quarter 2019 Distribution and Schedules Third Quarter 2019 Earnings Call
    PR Newswire

    Summit Midstream Partners, LP Announces Third Quarter 2019 Distribution and Schedules Third Quarter 2019 Earnings Call

    THE WOODLANDS, Texas, Oct. 24, 2019 /PRNewswire/ -- Summit Midstream Partners, LP (SMLP) announced today that the board of directors of its general partner, Summit Midstream GP, LLC, has declared a quarterly cash distribution of $0.2875 per unit on all of its outstanding common units, or $1.15 per unit on an annualized basis, for the quarter ended September 30, 2019.  This distribution will be paid on November 14, 2019, to unitholders of record as of the close of business on November 7, 2019. SMLP will host a conference call at 10:00 a.m. Eastern on Friday, November 8, 2019, to discuss its quarterly results.  Interested parties may participate in the call by dialing 847-585-4405 or toll-free 888-771-4371 and entering the passcode 49087220.  The conference call will also be webcast live and can be accessed through the Investors section of SMLP's website at www.summitmidstream.com.

  • Moody's

    Summit Midstream Partners Holdings, LLC -- Moody's announces completion of a periodic review of ratings of Summit Midstream Partners Holdings, LLC

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Summit Midstream Partners Holdings, LLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Moody's

    Summit Midstream Holdings, LLC -- Moody's announces completion of a periodic review of ratings of Summit Midstream Partners, LP

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Summit Midstream Partners, LP and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • 2 Vital Facts About High-Yield Dividend Stocks That Every Investor Should Know
    Motley Fool

    2 Vital Facts About High-Yield Dividend Stocks That Every Investor Should Know

    While big dividends may be alluring, income investors must be careful. These tips can help you avoid the yield traps and pick the real long-term winners.