Rose Rock Midstream LP (RRMS; $34.84-March 4; Neutral; PT: $38)4Q12 results in line. DCF/unit came in at $0.47 vs. our $0.46 and the Street's $0.42. Management on the call appropriately took a victory lap, with the parent, Semgroup, Inc. (SEMG, not rated), producing a 50% total return, trumped only by the outstanding performance of RRMS, which produced a 60% total return in 2012. In our view, the market rewarded RRMS for a fee-oriented structure......
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