Southcross Energy Partners LP (SXE) Rating Lowered to Sell at Zacks Investment Research
Southcross Energy Partners LP (NYSE:SXE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
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) last announced its quarterly earnings data on Tuesday, November 8th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.27. The company earned $144.66 million during the quarter, compared to the consensus estimate of $129.20 million.
A number of large investors have recently made changes to their positions in SXE. Weiss Multi Strategy Advisers LLC bought a new position in Southcross Energy Partners during the second quarter worth $774,000. JPMorgan Chase & Co. bought a new position in Southcross Energy Partners during the second quarter worth $109,000. Royal Bank of Canada raised its position 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. Morgan Stanley raised its position in Southcross Energy Partners by 12.2% in the third quarter. Morgan Stanley now owns 217,200 shares of the company’s stock worth $320,000 after buying an additional 23,601 shares during the last quarter. Finally, Stifel Financial Corp raised its position 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.
Southcross Energy Partners Company Profile
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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