Brokerages Set Southcross Energy Partners LP (SXE) Target Price at $3.00
Southcross Energy Partners LP (NYSE:SXE) has been given an average rating of “Sell” by the seven brokerages that are currently covering the stock. Four research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.00.
Separately, Zacks Investment Research upgraded shares of Southcross Energy Partners from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research note on Thursday, August 11th.
Several large investors have recently made changes to their positions in SXE. Stifel Financial Corp boosted its stake 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 worth $107,000 after buying an additional 2,893 shares during the period. Morgan Stanley raised its stake in shares of 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 in the last quarter. Royal Bank of Canada raised its stake 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 worth $639,000 after buying an additional 32,250 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Southcross Energy Partners during the second quarter worth approximately $109,000. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in shares of Southcross Energy Partners during the second quarter worth approximately $774,000.
Shares of Southcross Energy Partners (NYSE:SXE) opened at 1.26 on Monday. The stock has a 50 day moving average of $1.44 and a 200-day moving average of $1.82. Southcross Energy Partners has a 52 week low of $0.38 and a 52 week high of $5.39. The firm’s market capitalization is $82.73 million.
Southcross Energy Partners (NYSE:SXE) last released its earnings results on Tuesday, November 8th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.27. The company had revenue of $144.66 million for the quarter, compared to analysts’ expectations of $129.20 million. Analysts expect that Southcross Energy Partners will post ($1.22) earnings per share for the current year.
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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