- SMLP was one of my bigger mistakes (lazy analysis and bad timing perpetuated by inertia) and has been a meaningful detractor to multi-year partnership performance, even despite the stock being up 78% last year.
- Double E is a joint-venture between SMLP (70%) and Exxon (30%) that owns a 135-mile natural gas pipeline put in service at the end of 2021.
- We’ve re-analyzed this one what seems like hundreds of times and re-weighed the risk/reward, the results of which keep it in the portfolio as a smaller position, but one with lots of potential upside.
For further details see:
Legacy Ridge Capital - Summit Midstream Partners: Lots Of Potential Upside