This High-Yield Stock Is Working Hard to Cash In on the Fast-Growing Permian Basin [The Motley Fool]
Summit Midstream Partners, LP Common Units Representing Limited Partner Interests (SMLP)
Last summit midstream partners, lp common units representing limited partner interests earnings: 2/28 06:55 am
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Source: The Motley Fool
The master limited partnership is trying to sign up enough shippers to move forward with a needle-moving project. Oil and gas production in the Permian Basin is up more than 50% since December 2016. While that high-octane growth rate has the country on pace to produce record-setting volumes this year , it has also caused some growing pains. Among them is that there isn't enough pipeline capacity to move all that oil and gas out of the region. Because of that, pipeline companies are building new infrastructure as fast as they can . One of the many companies working to solve the Permian's pipeline problems is Summit Midstream Partners ( NYSE:SMLP ) . The master limited partnership (MLP) is currently working on a long-haul pipeline that would transport natural gas from the northwest portion of the region to a major hub in Texas. The project would not only provide needle-moving growth for Summit -- and help support its sky-high 14.5%-yielding distribution -- but
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SMLP
News
- Summit Midstream Partners, LP Announces Excess Cash Flow Offer to Purchase up to $19,331,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026 [Yahoo! Finance]Yahoo! Finance
- Summit Midstream Partners, LP Announces Excess Cash Flow Offer to Purchase up to $19,331,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026PR Newswire
- MPLX Acquires Utica Shale Assets From Summit Midstream Partners [Yahoo! Finance]Yahoo! Finance
- Summit Midstream Partners, LP Announces 2023 K-1 Tax Package AvailabilityPR Newswire
- This Ultra-High-Yield Dividend Stock Is Spending $625 Million to Add More Fuel to Grow Its Big-Time Payout [Yahoo! Finance]Yahoo! Finance
SMLP
Sec Filings
- 3/28/24 - Form 8-K/A
- 3/28/24 - Form 425
- 3/27/24 - Form 8-K
- SMLP's page on the SEC website