Inergy Midstream Partners Sports 7% Yield And Room For Growth
By Tim Plaehn: Two weeks ago I discussed how Inergy L.P. (NRGY) was getting out of the propane business and the primary remaining asset would be the company's holdings in Inergy Midstream Partners (NRGM). A new announcement that Inergy was dropping some additional assets down into Inergy Midstream Partners seems to make it a good time to take a closer look at the relatively new midstream MLP company. Inergy Midstream Partners was spun off by Inergy via IPO in December 2011. The company has a current market cap of $1.5 billion. The initial dividend rate was set at 37 cents quarterly or $1.48 annually per share. At a share price just over $20, the dividend yield for Inergy Midstream Partners is 7.3% - near the top of the board for natural gas midstream MLP companies. The company owns four natural gas storage facilities in New York and Pennsylvania with a capacity of 41Complete Story »
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