SunCoke Energy Partners LP (SXCP) Upgraded to “Hold” at Zacks Investment Research
SunCoke Energy Partners LP (NYSE:SXCP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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. “
Shares of SunCoke Energy Partners (NYSE:SXCP) opened at 16.15 on Friday. SunCoke Energy Partners has a one year low of $10.30 and a one year high of $21.95. The stock’s market capitalization is $746.45 million. The firm’s 50-day moving average is $16.19 and its 200-day moving average is $17.79.
SunCoke Energy Partners (NYSE:SXCP) last issued its quarterly earnings results on Thursday, April 20th. The energy company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.19. SunCoke Energy Partners had a return on equity of 15.91% and a net margin of 15.27%. The firm had revenue of $195.60 million during the quarter, compared to analysts’ expectations of $232.25 million. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts forecast that SunCoke Energy Partners will post ($0.40) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be given a dividend of $0.594 per share. This represents a $2.38 annualized dividend and a dividend yield of 14.71%. The ex-dividend date of this dividend is Thursday, May 11th. SunCoke Energy Partners’s payout ratio is 114.98%.
In other news, major shareholder Sun Coal & Coke Llc purchased 46,198 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average cost of $17.02 per share, for a total transaction of $786,289.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 494,341 shares of company stock valued at $8,048,804 over the last quarter.
Several hedge funds have recently modified their holdings of the company. Massey Quick & Co. LLC purchased a new stake in shares of SunCoke Energy Partners during the fourth quarter valued at approximately $113,000. Global X Management Co. LLC boosted its stake in shares of SunCoke Energy Partners by 6.7% in the first quarter. Global X Management Co. LLC now owns 6,486 shares of the energy company’s stock valued at $100,000 after buying an additional 409 shares during the last quarter. UBS Group AG boosted its stake in shares of SunCoke Energy Partners by 93.4% in the first quarter. UBS Group AG now owns 8,329 shares of the energy company’s stock valued at $128,000 after buying an additional 4,023 shares during the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of SunCoke Energy Partners during the first quarter valued at approximately $158,000. Finally, Creative Planning boosted its stake in shares of SunCoke Energy Partners by 3,878.5% in the first quarter. Creative Planning now owns 11,100 shares of the energy company’s stock valued at $170,000 after buying an additional 10,821 shares during the last quarter. Hedge funds and other institutional investors own 12.29% of the company’s stock.
SunCoke Energy Partners Company Profile
SunCoke Energy Partners, L.P. is engaged in the production of coke used in the blast furnace production of steel. As of December 31, 2016, the Company owned a 98% interest in Haverhill Coke Company LLC (Haverhill), Middletown Coke Company, LLC (Middletown), and Gateway Energy and Coke Company, LLC (Granite City).
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