Senior Portfolio Manager Robert Chisholm of Center Coast Capital Advisors, LP, is projecting a 15% average growth rate for Access Midstream Partners LP (ACMP). The stock has performed well in the firm’s Focus Fund due to its diversified portfolio and attractive yield, among other positive attributes.
“Access Midstream Partners is primarily a gathering-and-processing master limited partnership. It is 100% fee-based with very attractive contracts, essentially cost of service, and allows them to earn an attractive return on their investments in gathering-and-processing assets. They have assets located in a diverse number of shale plays: the Marcellus, the Utica, Haynesville, Barnett,” Chisholm said.
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Chisholm says Access Midstream Partners will benefit from the tremendous amount of supply growth in the Marcellus and Utica, and exposure to growth demand for infrastructure. The company has additional attractive characteristics that are behind its top position in the firm’s fund.
“It offers an attractive yield, but more importantly it offers a very attractive growth profile. According to our models and our projections, we’re projecting approximately 15% three-year cumulative average growth rate for the partnership. So it’s a very attractive 100% fee-based asset,” Chisholm said.
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