Southcross Energy Partners, L.P. (SXE) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Southcross Energy Partners, L.P. (NYSE:SXE) from a hold rating to a buy rating in a research note published on Wednesday morning. The firm currently has $2.50 target price on the energy company’s stock.

According to Zacks, “Southcross Energy, LLC provides natural gas gathering, processing, treating, compression and transportation services and NGL fractionation and transportation services. It also sources, purchases, transports and sells natural gas and NGLs to its power generation, industrial and utility customers. The Company’s services include connecting producing wells to pipeline gathering systems; processes and treats gas for pipeline transportation and commercial use; transports gas to end-users and pipeline interconnects; and purchase and sale of gas. Its assets are located in South Texas, Mississippi and Alabama. Southcross Energy, LLC is based in Dallas, Texas. “

Separately, ValuEngine lowered Southcross Energy Partners, L.P. from a hold rating to a sell rating in a research report on Wednesday, June 21st.

Shares of Southcross Energy Partners, L.P. (NYSE:SXE) traded down 1.01% during trading on Wednesday, hitting $2.45. 1,750 shares of the stock traded hands. The firm’s market cap is $192.28 million. The stock has a 50 day moving average of $2.72 and a 200 day moving average of $3.31. Southcross Energy Partners, L.P. has a 52-week low of $1.10 and a 52-week high of $4.74.

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Several hedge funds and other institutional investors have recently made changes to their positions in SXE. Goldman Sachs Group Inc. bought a new position in shares of Southcross Energy Partners, L.P. during the second quarter valued at $172,000. Freestone Capital Holdings LLC increased its position in shares of Southcross Energy Partners, L.P. by 71.4% in the second quarter. Freestone Capital Holdings LLC now owns 311,688 shares of the energy company’s stock valued at $988,000 after buying an additional 129,870 shares during the period. Acadian Asset Management LLC increased its position in shares of Southcross Energy Partners, L.P. by 3,967.3% in the second quarter. Acadian Asset Management LLC now owns 166,151 shares of the energy company’s stock valued at $526,000 after buying an additional 162,066 shares during the period. KCG Holdings Inc. increased its position in shares of Southcross Energy Partners, L.P. by 601.4% in the first quarter. KCG Holdings Inc. now owns 74,781 shares of the energy company’s stock valued at $260,000 after buying an additional 64,120 shares during the period. Finally, Morgan Stanley increased its position in shares of Southcross Energy Partners, L.P. by 67.1% in the first quarter. Morgan Stanley now owns 388,854 shares of the energy company’s stock valued at $1,352,000 after buying an additional 156,096 shares during the period. Institutional investors own 2.99% of the company’s stock.

Southcross Energy Partners, L.P. Company Profile

Southcross Energy Partners, L.P. provides natural gas gathering, processing, treating, compression and transportation services and natural gas liquid (NGL) fractionation and transportation services. The Company also sources, purchases, transports and sells natural gas and NGLs. Its assets are located in South Texas, Mississippi and Alabama As of December 31, 2016, its assets consisted of gathering systems, intrastate pipelines, two natural gas processing plants, one fractionation facility, 20 compressor stations and a treating system.