High-Dividend Stock Yields 10%, Strong Coverage, Earnings Growth, And Cash Flow Growth

With most of the midstream high dividend stocks in our articles having had big gains over the past year, we went looking for some "new blood" - maybe there's one we've overlooked. This stock yields 9.6%, with 1.24x distribution coverage. EBITDA grew 24%, distributable cash flow grew 28% in 2016, and distribution coverage grew 18% in 2016. This article offers two additional high-yielding trades for this stock.

As it turns out, the management of this article's focus stock, Summit Midstream Partners LP (NYSE:SMLP), also feels that its company's stock has been overlooked. In its latest quarterly report, the company included this interesting chart, which compares SMLP to some peers, and poses three "what if" scenarios. It points to a higher price of $28.40 if SMLP were to trade in line with its peers.

Source: Seeking Alpha

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