Sanchez Midstream Partners LP (SNMP) shares are trading at higher $0.37 and the avg recommendation for the stock is Moderate Buy.
To add more color to this target, the company’s high over the last year is $0.64 and the low is $0.15. Over the last 52 weeks, SNMP is up 17.09% while the S&P 500 is up 18.03%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, SNMP reported a profit of $10.35 million. Sanchez Midstream Partners LP also saw revenues increase to $11.68 million. In addition, SNMP has free cash flow of $17.38 million as of 06-2020. The company’s EBITDA came in at $2.9 million which compares well with its peers.
SNMP booked profit margins of -27.10%, its Return on Equity (ROE) is 37.80%, and its Return on Assets is -4.60%. All told, it is clear that, SNMP needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SNMP has a short ratio of 0.33 and outstanding shares of 19.22M.
SNMP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.13 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.87. Sanchez Midstream Partners LP SNMP also noted assets of $375.29 million at the end of the last quarter. Investors should also keep an eye on sector updates as SNMP has historically followed its peers on positive news.
All told, Sanchez Midstream Partners LP SNMP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SNMP represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Sanchez Midstream Partners LP SNMP is now commanding a market cap of 8.29M and a float of 7.39M. SNMP is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SNMP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in SNMP, either long or short, and we have not been compensated for this article.