Southcross Energy Partners LP (SXE) Rating Lowered to Hold at Zacks Investment Research
Southcross Energy Partners LP (NYSE:SXE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
Southcross Energy Partners (NYSE:SXE) opened at 1.48 on Thursday. Southcross Energy Partners has a 52-week low of $0.38 and a 52-week high of $6.48. The company’s market cap is $97.18 million. The company has a 50-day moving average of $1.63 and a 200-day moving average of $1.85.
Southcross Energy Partners (NYSE:SXE) last posted its earnings results on Friday, August 5th. The company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.12. On average, equities research analysts expect that Southcross Energy Partners will post ($0.97) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of SXE. Royal Bank of Canada raised its stake in Southcross Energy Partners by 11.3% in the second quarter. Royal Bank of Canada now owns 317,550 shares of the company’s stock worth $639,000 after buying an additional 32,250 shares during the last quarter. Stifel Financial Corp raised its stake in Southcross Energy Partners by 5.8% in the second quarter. Stifel Financial Corp now owns 53,046 shares of the company’s stock worth $107,000 after buying an additional 2,893 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new stake in Southcross Energy Partners during the second quarter worth $774,000. Finally, JPMorgan Chase & Co. acquired a new stake in Southcross Energy Partners during the second quarter worth $109,000.
About Southcross Energy Partners
Southcross Energy Partners, L.P. is a limited partnership. The Company provides natural gas gathering, processing, treating, compression and transportation services, and natural gas liquid (NGL) fractionation and transportation services. Its products include Ethane, Propane, Normal Butane, Isobutane and Natural Gasoline.
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