SunCoke Energy Partners, L.P. Announces Quarterly Dividend of $0.59 (SXCP)
SunCoke Energy Partners, L.P. (NYSE:SXCP) announced a quarterly dividend on Wednesday, October 18th, Wall Street Journal reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.594 per share by the energy company on Friday, December 1st. This represents a $2.38 dividend on an annualized basis and a dividend yield of 13.35%. The ex-dividend date of this dividend is Tuesday, November 14th.
SunCoke Energy Partners, L.P. has increased its dividend by an average of 26.9% annually over the last three years. SunCoke Energy Partners, L.P. has a dividend payout ratio of -119.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect SunCoke Energy Partners, L.P. to earn $1.66 per share next year, which means the company may not be able to cover its $2.38 annual dividend with an expected future payout ratio of 143.4%.
Shares of SunCoke Energy Partners, L.P. (NYSE SXCP) traded up 0.28% during mid-day trading on Wednesday, hitting $17.80. The stock had a trading volume of 136,632 shares. SunCoke Energy Partners, L.P. has a 1-year low of $13.50 and a 1-year high of $21.95. The firm’s market capitalization is $822.77 million. The stock’s 50-day moving average is $17.12 and its 200-day moving average is $17.08.
SunCoke Energy Partners, L.P. (NYSE:SXCP) last posted its quarterly earnings data on Thursday, July 27th. The energy company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.08). The company had revenue of $200.60 million during the quarter, compared to analyst estimates of $212.25 million. SunCoke Energy Partners, L.P. had a positive return on equity of 14.02% and a negative net margin of 9.52%. SunCoke Energy Partners, L.P.’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities analysts expect that SunCoke Energy Partners, L.P. will post ($1.91) earnings per share for the current year.
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In other SunCoke Energy Partners, L.P. news, major shareholder Sun Coal & Coke Llc bought 4,100 shares of the stock in a transaction on Thursday, July 27th. The stock was acquired at an average cost of $17.95 per share, for a total transaction of $73,595.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders acquired 561,515 shares of company stock valued at $9,622,385.
A number of equities analysts recently commented on the company. ValuEngine raised SunCoke Energy Partners, L.P. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised SunCoke Energy Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, BidaskClub raised SunCoke Energy Partners, L.P. from a “hold” rating to a “buy” rating in a research note on Thursday, October 12th.
SunCoke Energy Partners, L.P. 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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