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Southcross Energy Partners (NYSE:SXE) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $23.50 target price on the stock. Stifel Nicolaus’ price target suggests a potential upside of 11.06% from the stock’s previous close.

The analysts wrote, “The partnership announced it entered into a definitive agreement to combine with TexStar Midstream Services LP, a privately held gas gathering and processing partnership. “TexStar’s assets consist of 300 MMcf/d processing capacity, 63,000 Bbls/d of fractionation capacity and 885 miles of pipeline located in the Eagle Ford. Through a series of transactions, SXE will own TexStar’ Rich Gas System which includes 300 MMcf/d processing plant and 230 miles of rich natural gas pipelines with 300 MMcf/d capacity for $450 million. “The transaction will be financed with $180 million in cash via SXE’s newly formed credit revolver with capacity of $570 million and 14.6 million of payment-in-kind (PIKs) units. We expect the transaction to close in 3Q14.”

SXE has been the subject of a number of other recent research reports. Analysts at Stifel upgraded shares of Southcross Energy Partners from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $23.50 price target on the stock. Analysts at Raymond James upgraded shares of Southcross Energy Partners from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $23.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $21.40.

Southcross Energy Partners (NYSE:SXE) traded up 4.32% during mid-day trading on Friday, hitting $22.075. The stock had a trading volume of 71,246 shares. Southcross Energy Partners has a 1-year low of $14.92 and a 1-year high of $24.78. The stock has a 50-day moving average of $17.71 and a 200-day moving average of $17.66. The company’s market cap is $743.4 million.

Southcross Energy Partners (NYSE:SXE) last announced its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.08. The company had revenue of $213.59 million for the quarter, compared to the consensus estimate of $176.55 million. On average, analysts predict that Southcross Energy Partners will post $0.25 earnings per share for the current fiscal year.

Southcross Energy Partners, L.P. is a limited partnership. The Company owns, operates, develops and acquires midstream energy assets.

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