Traders Cooperative

[Joe Stocks]

SMLP - This is from a quarterly earnings call transcript from March 4th of 2021. The stocks I trade I don't usually expect multiple returns, but SMLP is an exception. I think it could be a triple or more in two years. Once they start paying a dividend again this one could fly!

From the transcript; March 4th 2021;

James Carreker

That's helpful. And I know this is an accounting question, but I think the book value per share, according to your financial statements, is somewhere north of about $120 per share, are there any write downs or impairments that could be expected in 2021 beyond what you've already announced?

Marc Stratton

Yes, James, the answer is no, we feel very good about where the book value of our assets is today. It's something that we look at every quarter, and run an analysis on every quarter, based on undiscounted and discounted cash flows from those assets and the cash flow that those are projected to throw off over time. So I think we've taken some impairments over the last couple of years, as needed. But I think we feel very good about the value of our assets, where they sit today.

Yahoo finance now showing SMLP with a book value of 105.76, or selling for 19% of book.
Levered free cash flow of $107 mil. Market cap is $170 mil!