SunCoke Energy Partners LP (SXCP) Upgraded to Buy at Zacks Investment Research
SunCoke Energy Partners LP (NYSE:SXCP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $17.00 target price on the stock. Zacks Investment Research’s price objective points to a potential upside of 12.43% from the company’s current price.
According to Zacks, “SunCoke Energy Partners L.P. manufactures metallurgical coke used in the blast furnace production of steel. SunCoke Energy Partners, L.P. is based in Lisle, Illinois. “
SunCoke Energy Partners (NYSE:SXCP) opened at 15.12 on Wednesday. The firm has a market cap of $698.70 million, a P/E ratio of 7.59 and a beta of 1.19. SunCoke Energy Partners has a 12-month low of $5.16 and a 12-month high of $15.75. The company has a 50-day moving average price of $14.36 and a 200-day moving average price of $12.39.
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SunCoke Energy Partners (NYSE:SXCP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.19. The company earned $181.40 million during the quarter, compared to analysts’ expectations of $185.40 million. SunCoke Energy Partners’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, analysts predict that SunCoke Energy Partners will post $1.76 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in SunCoke Energy Partners by 96.7% in the first quarter. Geode Capital Management LLC now owns 81,598 shares of the company’s stock valued at $603,000 after buying an additional 40,106 shares during the last quarter. ING Groep NV acquired a new position in SunCoke Energy Partners during the first quarter valued at $638,000. GSA Capital Partners LLP boosted its position in SunCoke Energy Partners by 43.9% in the second quarter. GSA Capital Partners LLP now owns 87,908 shares of the company’s stock valued at $949,000 after buying an additional 26,817 shares during the period. BB&T Securities LLC acquired a new position in SunCoke Energy Partners during the second quarter valued at $117,000. Finally, Arrow Investment Advisors LLC boosted its position in SunCoke Energy Partners by 10.4% in the second quarter. Arrow Investment Advisors LLC now owns 92,004 shares of the company’s stock valued at $994,000 after buying an additional 8,700 shares during the period.
About SunCoke Energy Partners
SunCoke Energy Partners, L.P. is engaged primarily in producing coke used in the blast furnace production of steel. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Coal Logistics, and Corporate and Other. Its Domestic Coke segment consists of the Haverhill Coke Company LLC, Middletown Coke Company, LLC and Gateway Energy and Coke Company, LLC cokemaking and heat recovery operations in Franklin Furnace, Ohio; Middletown, Ohio, and Granite City, Illinois, respectively.
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