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Summit Midstream Partners

DB:1SM
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1SM
DB
$59M
Imp Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The last earnings update was 30 days ago. More info.


Add to Portfolio Compare Print
  • Summit Midstream Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Summit Midstream Partners has significant price volatility in the past 3 months.
1SM Share Price and Events
7 Day Returns
13.5%
DB:1SM
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-92.6%
DB:1SM
34.4%
DE Oil and Gas
-14.2%
DE Market
1SM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Summit Midstream Partners (1SM) 13.5% -43.3% -79.1% -92.6% -97.3% -98.2%
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • 1SM underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • 1SM underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
1SM
Industry
5yr Volatility vs Market

Value

 Is Summit Midstream Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Summit Midstream Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Summit Midstream Partners.

DB:1SM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:1SM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.972 (1 + (1- 21%) (2495.89%))
13.823
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:1SM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Summit Midstream Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:1SM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 58.20 Analyst x2 52.67
2021 53.30 Analyst x2 43.66
2022 94.70 Analyst x1 70.21
2023 85.00 Analyst x1 57.03
2024 82.10 Analyst x1 49.86
2025 80.17 Est @ -2.35% 44.06
2026 78.76 Est @ -1.76% 39.18
2027 77.70 Est @ -1.35% 34.98
2028 76.87 Est @ -1.06% 31.32
2029 76.21 Est @ -0.86% 28.11
Present value of next 10 years cash flows $451.00
DB:1SM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $76.21 × (1 + -0.39%) ÷ (10.49% – -0.39%)
$697.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $697.75 ÷ (1 + 10.49%)10
$257.32
DB:1SM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $451.00 + $257.32
$708.32
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $708.32 / 93.61
$7.57
DB:1SM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1SM represents 0.90146x of NYSE:SMLP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90146x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 7.57 x 0.90146
€6.82
Value per share (EUR) From above. €6.82
Current discount Discount to share price of €0.61
= -1 x (€0.61 - €6.82) / €6.82
91.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Summit Midstream Partners is available for.
Intrinsic value
>50%
Share price is €0.61 vs Future cash flow value of €6.82
Current Discount Checks
For Summit Midstream Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Summit Midstream Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Summit Midstream Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Summit Midstream Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Summit Midstream Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1SM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-4.84
NYSE:SMLP Share Price ** NYSE (2020-04-08) in USD $0.68
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Summit Midstream Partners.

DB:1SM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:SMLP Share Price ÷ EPS (both in USD)

= 0.68 ÷ -4.84

-0.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Summit Midstream Partners is loss making, we can't compare its value to the Europe Oil and Gas industry average.
  • Summit Midstream Partners is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Summit Midstream Partners's expected growth come at a high price?
Raw Data
DB:1SM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
111%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Summit Midstream Partners, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Summit Midstream Partners's assets?
Raw Data
DB:1SM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $5.03
NYSE:SMLP Share Price * NYSE (2020-04-08) in USD $0.68
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:1SM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:SMLP Share Price ÷ Book Value per Share (both in USD)

= 0.68 ÷ 5.03

0.13x

* Primary Listing of Summit Midstream Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Summit Midstream Partners is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Summit Midstream Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Summit Midstream Partners has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Summit Midstream Partners expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
111%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Summit Midstream Partners expected to grow at an attractive rate?
  • Unable to compare Summit Midstream Partners's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Summit Midstream Partners's earnings growth to the Germany market average as it is expected to be loss making during the next 1-3 years.
  • Summit Midstream Partners's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1SM Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1SM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 111%
DB:1SM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -6%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:1SM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1SM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 367 -7 1
2021-12-31 402 -11 2
2020-12-31 435 -6 2
2020-04-08
DB:1SM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 445 182 -398
2019-09-30 464 205 -35
2019-06-30 492 214 30
2019-03-31 520 229 -26
2018-12-31 508 228 5
2018-09-30 500 208 -47
2018-06-30 497 227 -5
2018-03-31 470 227 62
2017-12-31 490 238 73
2017-09-30 489 258 107
2017-06-30 460 220 17
2017-03-31 448 226 -43

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Summit Midstream Partners is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Summit Midstream Partners's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:1SM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Summit Midstream Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1SM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.44 0.44 0.44 1.00
2023-12-31 0.47 0.47 0.47 1.00
2022-12-31 0.20 0.47 -0.07 2.00
2021-12-31 -0.03 0.47 -0.32 5.00
2020-12-31 0.10 0.75 -0.14 5.00
2020-04-08
DB:1SM Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -4.84
2019-09-30 -0.45
2019-06-30 0.39
2019-03-31 -0.36
2018-12-31 0.06
2018-09-30 -0.65
2018-06-30 -0.06
2018-03-31 0.85
2017-12-31 1.00
2017-09-30 1.48
2017-06-30 0.24
2017-03-31 -0.61

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Summit Midstream Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Summit Midstream Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Summit Midstream Partners has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Summit Midstream Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Summit Midstream Partners's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Summit Midstream Partners does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Summit Midstream Partners's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Summit Midstream Partners's 1-year growth to the Europe Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Summit Midstream Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Summit Midstream Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1SM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 444.75 -398.40 49.14
2019-09-30 464.44 -35.18 46.46
2019-06-30 491.89 29.62 49.05
2019-03-31 520.41 -26.30 52.37
2018-12-31 508.21 4.64 52.88
2018-09-30 500.20 -47.25 53.98
2018-06-30 497.12 -4.73 55.53
2018-03-31 470.19 62.31 54.93
2017-12-31 490.30 72.65 54.68
2017-09-30 489.21 107.07 54.66
2017-06-30 459.61 17.31 53.74
2017-03-31 447.73 -42.72 53.66
2016-12-31 402.78 -48.21 52.41
2016-09-30 388.22 -277.70 49.17
2016-06-30 408.41 -256.29 47.63
2016-03-31 405.71 -203.97 46.39
2015-12-31 401.34 -195.61 45.11
2015-09-30 411.60 -15.99 44.20
2015-06-30 381.24 -32.27 42.79
2015-03-31 380.38 -30.13 40.82
2014-12-31 388.11 -27.12 43.28
2014-09-30 334.54 27.11 35.75
2014-06-30 325.79 28.76 33.84
2014-03-31 311.30 33.43 32.59
2013-12-31 324.72 42.55 32.27
2013-09-30 259.11 19.84 27.86
2013-06-30 223.96 20.68 25.53

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Summit Midstream Partners has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Summit Midstream Partners has efficiently used its assets last year compared to the Europe Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Summit Midstream Partners improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Summit Midstream Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Summit Midstream Partners has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Summit Midstream Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Summit Midstream Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Summit Midstream Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Summit Midstream Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Summit Midstream Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Summit Midstream Partners Company Filings, last reported 3 months ago.

DB:1SM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 790.97 1,470.30 4.95
2019-09-30 1,074.20 1,392.99 5.05
2019-06-30 1,107.12 1,365.56 0.54
2019-03-31 1,139.03 1,226.15 5.30
2018-12-31 1,221.22 1,257.73 4.35
2018-09-30 1,251.02 1,175.31 0.37
2018-06-30 1,236.81 1,147.01 8.21
2018-03-31 1,344.08 1,091.60 3.37
2017-12-31 1,389.67 1,051.19 1.43
2017-09-30 1,161.31 1,295.79 2.91
2017-06-30 1,110.90 1,280.65 2.59
2017-03-31 1,125.12 1,264.91 6.29
2016-12-31 1,169.67 1,240.30 7.43
2016-09-30 1,199.40 1,224.92 7.60
2016-06-30 1,107.54 1,312.54 6.74
2016-03-31 1,196.59 1,312.16 13.09
2015-12-31 1,747.30 1,267.27 21.79
2015-09-30 1,244.68 904.00 5.46
2015-06-30 1,255.94 879.00 26.97
2015-03-31 933.87 796.00 13.10
2014-12-31 1,351.72 808.00 26.50
2014-09-30 1,039.91 775.00 14.13
2014-06-30 1,060.56 726.00 23.43
2014-03-31 1,085.88 691.00 10.40
2013-12-31 1,201.74 586.00 20.36
2013-09-30 976.88 565.05 15.28
2013-06-30 993.10 565.05 30.12
  • Summit Midstream Partners's level of debt (185.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (60% vs 185.9% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Summit Midstream Partners has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Summit Midstream Partners has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -32.2% per year.
X
Financial health checks
We assess Summit Midstream Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Summit Midstream Partners has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Summit Midstream Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
73.87%
Current annual income from Summit Midstream Partners dividends. Estimated to be 51.21% next year.
If you bought €2,000 of Summit Midstream Partners shares you are expected to receive €1,477 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Summit Midstream Partners's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • Summit Midstream Partners's dividend is above the markets top 25% of dividend payers in Germany (4.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:1SM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:1SM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.25 1.00
2023-12-31 0.25 1.00
2022-12-31 0.29 3.00
2021-12-31 0.38 5.00
2020-12-31 0.39 5.00
2020-04-08
DB:1SM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-29 0.500 46.076
2019-10-24 1.150 32.394
2019-07-26 1.150 22.245
2019-04-25 1.150 15.245
2019-02-26 1.150 11.761
2019-01-25 2.300 17.807
2018-10-25 2.300 17.734
2018-07-26 2.300 14.309
2018-04-26 2.300 14.577
2018-01-25 2.300 14.022
2017-10-26 2.300 11.257
2017-08-04 2.300 11.086
2017-08-03 2.300 10.491
2017-04-27 2.300 9.949
2017-01-26 2.300 9.738
2016-10-27 2.300 9.814
2016-07-21 2.300 9.979
2016-04-21 2.300 10.551
2016-01-21 2.300 14.385
2015-10-22 2.300 13.276
2015-07-22 2.280 10.418
2015-04-23 2.260 6.940
2015-01-22 2.240 6.426
2014-10-23 2.160 5.345
2014-07-24 2.080 4.186
2014-04-24 2.000 4.210
2014-01-23 1.920 4.729
2013-10-24 1.840 5.353
2013-07-25 1.740 5.210
2013-04-25 1.680 5.315
2013-01-23 1.640 6.727

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Summit Midstream Partners has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Summit Midstream Partners has only been paying a dividend for 7 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Summit Midstream Partners's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Summit Midstream Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Summit Midstream Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Summit Midstream Partners has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Summit Midstream Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
J. Deneke
COMPENSATION $4,882,736
AGE 45
TENURE AS CEO 0.6 years
CEO Bio

Mr. J. Heath Deneke serves as President, Chief Executive Officer and Director of Summit Midstream GP, LLC at Summit Midstream Partners, LP since September 16, 2019. He served as Chief Operating Officer at Crestwood Midstream Partners LP from June 2015 to April 15, 2019. Mr. Deneke serves on the board of directors for Bay West Environmental and Bradford Airport Logistics. Mr. Deneke is a member of the Houston Chapter of the Young Presidents Organization. Mr. Deneke served as the Chief Operating Officer and President of Crestwood's Pipeline Services Group from June 2015 to August 2017. He was Chief Operating Officer and Executive Vice President of pipeline Services Group at Crestwood Equity GP LLC, General Partner of Crestwood Equity Partners LP since June 2015 until April 15, 2019 and served as its member of the Office of the Chairman since August 2017. Mr. Deneke was responsible for commercial development and operations of its midstream businesses, including assets in the Bakken, Barnett, Fayetteville, Marcellus, Powder River, and Permian basins. Mr. Deneke served as President of Natural Gas Business Unit of Crestwood Equity GP, LLC since October 2013 to June 2015. He had been an Executive Vice President of Crestwood Midstream Partners LP since July 25, 2017 and served as its President since June 2015 until July 25, 2017. Mr. Deneke served as the Senior Vice President and Chief Commercial Officer of Legacy Crestwood Midstream Partners LP from August 2012 to October 7, 2013. Mr. Deneke served as the Chief Commercial Officer and Senior Vice President at Crestwood Gas Services GP LLC since August 2012 until October 7, 2013. Mr. Deneke served as the President of Natural Gas Business Unit of Crestwood Midstream GP LLC, the general partner of Crestwood Midstream Partners LP since October 7, 2013. Mr. Deneke joined El Paso Corporation in 1996. Mr. Deneke served in various management positions at El Paso Corporation for the 16 years. He was Vice President of Project Development and Engineering within the pipeline group managing over $6.7 billion of pipeline, storage, compression and LNG terminal projects as well as an annual pipeline maintenance budget of more than $300 million. Previously, Mr. Deneke was Director of Marketing and Asset Optimization for Tennessee Gas Pipeline Company, LLC and Manager of Business Development and Strategy for Southern Natural Gas Company, LLC. Mr. Deneke earned a bachelor's degree in Mechanical Engineering from Auburn University.

CEO Compensation
  • Insufficient data for J. to compare compensation growth.
  • J.'s remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Summit Midstream Partners management team in years:

2.5
Average Tenure
46
Average Age
  • The tenure for the Summit Midstream Partners management team is about average.
Management Team

J. Deneke

TITLE
President
COMPENSATION
$5M
AGE
45
TENURE
0.6 yrs

Marc Stratton

TITLE
Executive VP & CFO of Summit Midstream GP
COMPENSATION
$1M
AGE
41
TENURE
1.3 yrs

Leonard Mallett

TITLE
Executive VP & COO of Summit Midstream GP
COMPENSATION
$2M
AGE
62
TENURE
4.3 yrs

Louise Matthews

TITLE
Executive VP & Chief Administration Officer of Summit Midstream GP
COMPENSATION
$1M
AGE
49
TENURE
1.2 yrs

Brock Degeyter

TITLE
Executive VP
COMPENSATION
$1M
AGE
42
TENURE
8.3 yrs

David Kimsey

TITLE
Chief Accounting Officer & VP of Summit Midstream GP LLC
TENURE
4.1 yrs

Blake Motley

TITLE
VP of Strategy & Head of Investor Relations of Summit Midstream GP
TENURE
1.3 yrs

Ryan Simmons

TITLE
Senior Vice President of Corporate Development - Summit Midstream GP LLC

Michael Smith

TITLE
Senior Vice President of Corporate Development - Summit Midstream GP LLC
AGE
47

Carrie Vruno

TITLE
VP & Controller of Summit Midstream GP LLC
TENURE
3.6 yrs
Board of Directors Tenure

Average tenure and age of the Summit Midstream Partners board of directors in years:

3.7
Average Tenure
52
Average Age
  • The tenure for the Summit Midstream Partners board of directors is about average.
Board of Directors

Tom Lane

TITLE
Director of Summit Midstream GP
AGE
62
TENURE
7.9 yrs

J. Deneke

TITLE
President
COMPENSATION
$5M
AGE
45
TENURE
0.6 yrs

Jerry Peters

TITLE
Independent Director of Summit Midstream GP
COMPENSATION
$230K
AGE
61
TENURE
7.6 yrs

Bob Wohleber

TITLE
Independent Director of Summit Midstream GP
COMPENSATION
$240K
AGE
68
TENURE
6.7 yrs

Christopher Leininger

TITLE
Director of Summit Midstream GP LLC
AGE
50
TENURE
0.1 yrs

Matt Delaney

TITLE
Director of Summit Midstream GP
AGE
32
TENURE
3.9 yrs

Pete Labbat

TITLE
Director of Summit Midstream GP
AGE
53
TENURE
3.7 yrs

James Jacobe

TITLE
Independent Director of Summit Midstream GP
COMPENSATION
$185K
AGE
51
TENURE
1 yrs

Francesco Ciabatti

TITLE
Director of Summit Midstream GP LLC
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Summit Midstream Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Summit Midstream Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, treating, and processing services, as well as crude oil and produced water gathering services. Its unconventional resource basins include the Appalachian Basin, which comprise the Utica and Point Pleasant shale formations in southeastern Ohio, and the Marcellus Shale formation in northern West Virginia; the Williston Basin that consists of the Bakken and Three Forks shale formations in northwestern North Dakota; the Denver-Julesburg Basin, which include the Niobrara and Codell shale formations in northeastern Colorado; the northern Delaware Basin that comprise the Wolfcamp and Bone Spring formations, in southeastern New Mexico; the Piceance Basin, which include the Mesaverde formation, and the Mancos and Niobrara shale formations in western Colorado and eastern Utah; and the Fort Worth Basin that comprises the Barnett Shale formation in north-central Texas. The company also owns an ownership interest in Ohio Gathering, which owns and operates natural gas gathering and condensate stabilization infrastructure in the Utica Shale in Ohio. It serves natural gas and crude oil producers. Summit Midstream GP, LLC operates as a general partner of the company. Summit Midstream Partners, LP was founded in 2009 and is headquartered in The Woodlands, Texas.

Details
Name: Summit Midstream Partners, LP
1SM
Exchange: DB
Founded: 2009
$54,298,174
$54,298,174
93,613,194
Website: http://www.summitmidstream.com
Address: Summit Midstream Partners, LP
1790 Hughes Landing Boulevard,
Suite 500,
The Woodlands,
Texas, 77380,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SMLP Common Units New York Stock Exchange US USD 28. Sep 2012
DB 1SM Common Units Deutsche Boerse AG DE EUR 28. Sep 2012
Number of employees
Current staff
Staff numbers
0
Summit Midstream Partners employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 22:06
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/03/09
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.