Summit Midstream: Refinancing And Conversion To C-Corp Could Mean A Double In The Stock

Hans-Peter Merten Summit Midstream (NYSE:SMLP) has had a busy couple of months. Following the asset sales in the Marcellus Basin, the company has completely restructured its debt, thereby lowering interest expense and boosting future cash flows. I believe the lower and now extended maturity debt plus higher cash flows will allow the company to pay accrued preferred distributions and then recommence common distribution. Also, yesterday (Thursday July 18th), the company's shareholders voted to convert from an ...