Eye Catching Stock: Sanchez Midstream Partners LP (NYSE: SNMP)

On 18 May 2020, Sanchez Midstream Partners LP (NYSE: SNMP) stock observed trading -86.26% off 52-week high price. On the other end, the stock has been noted 185.87% away from low price over the last 52-weeks. The stock disclosed a move of 25.95% away from 50 day moving average and 7.32% away from 200 day moving average. Moving closer, we can see that shares have been trading 4.74% off 20-day moving average. It has market cap of $7.59M and dividend yield of 142.31%.

Sanchez Midstream Partners LP (SNMP) recently stated fourth-quarter and full year 2019 results.

FINANCIAL RESULTS

The Joint Venture’s fourth-quarter 2019 revenues totaled about $16.4M, of which $14.4M came from the midstream activities of Western Catarina Midstream and the Seco Pipeline. The balance of the Joint Venture’s fourth-quarter 2019 revenues came from production activities (about $3.7M, which includes a gain on hedge settlements of $0.2M) and a loss on mark-to-market activities ($1.7M), which is a non-cash item.

The Joint Venture’s full-year 2019 revenues totaled $76.6M, of which $65.9M came from the midstream activities of Western Catarina Midstream and the Seco Pipeline. The balance of the Joint Venture’s full-year 2019 revenues came from production activities ($15.4M, which includes a gain on hedge settlements of $0.9M) and a loss on mark-to-market activities (about $4.7M), which is a non-cash item.

The activities of Carnero G&P LLC (the “Carnero JV”) contributed a loss of about $0.2M for fourth-quarter 2019 and income of $2.8M for full-year 2019. The Joint Venture received a cash distribution of $1.6M from the Carnero JV in February 2020 related to fourth-quarter 2019 activity, resulting in total cash distributions from midstream joint ventures of about $14.2M for full-year 2019.

On a GAAP basis, the Joint Venture stated a net loss of $47.8M for fourth-quarter 2019, contrast to a net loss of $6.8M for third-quarter 2019 and net income of $15.6M for fourth-quarter 2018.  The Joint Venture stated a net loss of $51.1M for full-year 2019, contrast to net income of about $15.7M for full-year 2018.

Adjusted EBITDA was about $12.2M for fourth-quarter 2019, contrast to Adjusted EBITDA of $17.4M for third-quarter 2019 and about $14.9M for fourth-quarter 2018. The Joint Venture’s full-year 2019 Adjusted EBITDA was about $65.7M, which is over five percent lower when contrast to Adjusted EBITDA of about $69.4M for full-year 2018.

The USA based company Sanchez Midstream Partners LP moved with change of 1.71% to $0.43 with the total traded volume of 110002 shares in recent session versus to an average volume of 170.51K. SNMP’s shares are at 7.29% for the quarter and driving a -85.46% return over the course of the past year and is now at 39.74% since this point in 2018.  The average volatility for the week and month was at 14.86% and 19.43% respectively.

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