SunCoke Energy Partners LP (SXCP) Upgraded to Buy at Zacks Investment Research
SunCoke Energy Partners LP (NYSE:SXCP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $17.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 12.43% from the company’s previous close.
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. “
SunCoke Energy Partners (NYSE:SXCP) opened at 15.12 on Wednesday. SunCoke Energy Partners has a 52-week low of $5.16 and a 52-week high of $15.75. The firm has a market capitalization of $698.70 million, a PE ratio of 7.59 and a beta of 1.19. The stock’s 50 day moving average is $14.36 and its 200-day moving average is $12.39.
SunCoke Energy Partners (NYSE:SXCP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.19. The business had revenue of $181.40 million for the quarter, compared to the consensus estimate of $185.40 million. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities analysts expect that SunCoke Energy Partners will post $1.76 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Walleye Trading LLC raised its stake in SunCoke Energy Partners by 107.1% in the second quarter. Walleye Trading LLC now owns 10,250 shares of the company’s stock worth $111,000 after buying an additional 5,300 shares during the period. BB&T Securities LLC bought a new stake in SunCoke Energy Partners during the second quarter worth about $117,000. KCG Holdings Inc. bought a new stake in SunCoke Energy Partners during the second quarter worth about $142,000. Citadel Advisors LLC bought a new stake in SunCoke Energy Partners during the second quarter worth about $208,000. Finally, JPMorgan Chase & Co. raised its stake in SunCoke Energy Partners by 279.5% in the second quarter. JPMorgan Chase & Co. now owns 22,767 shares of the company’s stock worth $246,000 after buying an additional 16,767 shares during the period.
SunCoke Energy Partners Company Profile
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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