Evolve Transition Infrastructure LP (SNMP) stock shares gained 18.9% in the after-hours on Wednesday, April 28, 2021, to trade at $0.95 per share. Earlier, SNMP’s stock gained 5.13% to close Wednesday’s session at $0.80. SNMP shares have risen by 94.21% over the last 12 months, and they have moved up by 8.78% in the past week. Over the past three months, the stock has lost 15.04%, while over the past six months, it has added 37.29%.
Let’s see if there any recent developments about SNMP.
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Recent financial results
On March 26, 2021, Evolve Transition Infrastructure LP announced full-year 2020 results.
FY-2020 financial highlights
- FY 2020 total revenue was $57.0 million
- The Partnership received total cash distributions of $16.2 million for full-year 2020.
- The Partnership reported a net loss of $118.8 million for full-year 2020.
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Sanchez Midstream Partners changed its Name
On February 16, 2021, Sanchez Midstream Partners LP changed its name to “Evolve Transition Infrastructure LP” aftermarket hours on Friday, February 26, 2021.
Successful NYSE compliance regain
On June 25, 2020, the NYSE American LLC notified Sanchez Midstream Partners (Evolve Transition Infrastructure LP) that it has accepted the Partnership’s plan to regain compliance with the Exchange’s continued listing standards.
Q4 and FY 2019 financial results
March 13, 2020, Sanchez Midstream Partners LP reported the fourth-quarter and full-year 2019 results.
Q4 2019 highlights
- The Partnership’s fourth-quarter 2019 revenues totalled approximately $16.4 million.
- On a GAAP basis, the Partnership reported a net loss of $47.8 million for fourth-quarter 2019, compared to net income of $15.6 million for fourth-quarter 2018.
- Adjusted EBITDA was approximately $12.2 million for fourth-quarter 2019, compared to Adjusted EBITDA of $14.9 million for fourth-quarter 2018.
FY-2019 highlights
- The Partnership’s full-year 2019 revenues totalled $76.6 million,
- The Partnership reported a net loss of $51.1 million for full-year 2019, compared to net income of approximately $15.7 million for full-year 2018.
- The Partnership’s full-year 2019 adjusted EBITDA was approximately $65.7 million compared to adjusted EBITDA of approximately $69.4 million for full-year 2018.
Conclusion
There is no recent news about the company but it is performing well and we can see it continue its momentum in the coming days.
About the company
Evolve Transition Infrastructure LP is a publicly traded limited partnership formed in 2005 focused on the acquisition, development, and ownership of infrastructure critical to the transition of energy supply to lower-carbon sources. The company owns natural gas gathering systems, pipelines, and processing facilities in South Texas and continues to pursue energy transition infrastructure opportunities.
