MLP IPO Review: Susser Petroleum Partners, LP
Disclosure: I am long CLMT, NTI. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
No Attention Span Summary: A wholesale fuel distributor entrant into the MLP universe that is a more compelling MLP investment if the unit price is closer to $17 or less.
Susser Petroleum Partners, LP (SUSP)
SUSP is currently on the road looking to price its IPO on the evening of September 19, 2012. The company is looking to sell 9.5 million common units at a mid-point price of $20 per unit raising approximately $190 million of gross proceeds. I am going to assume readers are familiar with Master Limited Partnerships ("MLPs") and energy related concepts in general and focus more on key Pros and Cons for SUSP and how it compares to the current MLP universe. Additionally, this article uses some unique terms and ratios that are explained in an earlier article, A Ranking Protocol for the MLP Space. READ FULL ARTICLE HERE