Southcross Energy Partners LP (NYSE:SXE) Given Average Recommendation of “Hold” by Brokerages
Southcross Energy Partners LP (NYSE:SXE) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the firm. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.00.
Separately, Zacks Investment Research upgraded Southcross Energy Partners from a “sell” rating to a “buy” rating and set a $2.25 price target for the company in a research note on Wednesday, June 29th.
Shares of Southcross Energy Partners (NYSE:SXE) traded up 2.04% on Monday, reaching $1.50. The company’s stock had a trading volume of 55,853 shares. The company’s market cap is $98.49 million. The firm has a 50 day moving average of $1.61 and a 200 day moving average of $1.86. Southcross Energy Partners has a 52-week low of $0.38 and a 52-week high of $6.48.
Southcross Energy Partners (NYSE:SXE) last issued its quarterly earnings results on Friday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.12. Analysts predict that Southcross Energy Partners will post ($0.97) earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in shares of Southcross Energy Partners during the second quarter valued at approximately $109,000. Weiss Multi Strategy Advisers LLC bought a new position in shares of Southcross Energy Partners during the second quarter valued at about $774,000. Stifel Financial Corp increased its position in shares of Southcross Energy Partners by 5.8% in the second quarter. Stifel Financial Corp now owns 53,046 shares of the company’s stock valued at $107,000 after buying an additional 2,893 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Southcross Energy Partners by 11.3% in the second quarter. Royal Bank of Canada now owns 317,550 shares of the company’s stock valued at $639,000 after buying an additional 32,250 shares during the period.
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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