Zacks Investment Research Upgrades SunCoke Energy Partners LP (SXCP) to “Buy”
Zacks Investment Research upgraded shares of SunCoke Energy Partners LP (NYSE:SXCP) from a hold rating to a buy rating in a report issued on Wednesday. The firm currently has $17.00 price target on the stock.
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 15.30 on Wednesday. The firm’s 50-day moving average price is $14.69 and its 200 day moving average price is $12.62. The firm has a market capitalization of $707.01 million, a price-to-earnings ratio of 7.68 and a beta of 1.19. SunCoke Energy Partners has a 52 week low of $5.16 and a 52 week high of $15.75.
SunCoke Energy Partners (NYSE:SXCP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.19. The firm earned $181.40 million during the quarter, compared to analyst estimates 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 anticipate that SunCoke Energy Partners will post $1.76 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake 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 in the last quarter. ING Groep NV bought a new stake in SunCoke Energy Partners during the first quarter valued at $638,000. GSA Capital Partners LLP raised its stake 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 in the last quarter. BB&T Securities LLC bought a new stake in SunCoke Energy Partners during the second quarter valued at $117,000. Finally, Arrow Investment Advisors LLC raised its stake 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 in the last quarter.
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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