SunCoke Energy Partners, L.P. (SXCP) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of SunCoke Energy Partners, L.P. (NYSE:SXCP) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $20.00 price target on the energy company’s 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. “

A number of other research analysts also recently issued reports on SXCP. BidaskClub upgraded shares of SunCoke Energy Partners, L.P. from a sell rating to a hold rating in a research report on Tuesday, September 26th. ValuEngine downgraded shares of SunCoke Energy Partners, L.P. from a strong-buy rating to a buy rating in a research report on Monday, July 17th.

SunCoke Energy Partners, L.P. (NYSE SXCP) traded down $0.05 on Wednesday, hitting $17.70. 211,378 shares of the stock were exchanged, compared to its average volume of 169,629. SunCoke Energy Partners, L.P. has a one year low of $13.50 and a one year high of $21.95. The company has a current ratio of 1.38, a quick ratio of 0.67 and a debt-to-equity ratio of 1.50. The firm has a market cap of $820.49, a P/E ratio of 9.81 and a beta of 1.31.

SunCoke Energy Partners, L.P. (NYSE:SXCP) last posted its quarterly earnings results on Thursday, October 26th. The energy company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.22. SunCoke Energy Partners, L.P. had a negative net margin of 9.04% and a positive return on equity of 15.35%. The company had revenue of $214.00 million for the quarter, compared to the consensus estimate of $212.95 million. During the same period last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. equities analysts predict that SunCoke Energy Partners, L.P. will post -1.94 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.594 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.38 annualized dividend and a dividend yield of 13.42%. SunCoke Energy Partners, L.P.’s dividend payout ratio is currently -129.35%.

In related news, major shareholder Sun Coal & Coke Llc acquired 44,996 shares of the stock in a transaction dated Monday, August 28th. The stock was bought at an average price of $17.24 per share, for a total transaction of $775,731.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought a total of 734,879 shares of company stock valued at $12,722,798 in the last quarter.

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of SunCoke Energy Partners, L.P. in the 3rd quarter valued at $263,000. Adams Asset Advisors LLC increased its stake in shares of SunCoke Energy Partners, L.P. by 36.0% in the 3rd quarter. Adams Asset Advisors LLC now owns 56,695 shares of the energy company’s stock valued at $975,000 after acquiring an additional 15,000 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of SunCoke Energy Partners, L.P. in the 2nd quarter valued at $180,000. Advisor Group Inc. increased its stake in shares of SunCoke Energy Partners, L.P. by 8.0% in the 2nd quarter. Advisor Group Inc. now owns 34,946 shares of the energy company’s stock valued at $613,000 after acquiring an additional 2,595 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of SunCoke Energy Partners, L.P. by 29.6% in the 2nd quarter. Citigroup Inc. now owns 30,398 shares of the energy company’s stock valued at $534,000 after acquiring an additional 6,938 shares in the last quarter. Institutional investors own 15.60% of the company’s stock.

About SunCoke Energy Partners, L.P.

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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