BidaskClub Lowers SunCoke Energy Partners, L.P. (SXCP) to Sell

BidaskClub lowered shares of SunCoke Energy Partners, L.P. (NYSE:SXCP) from a hold rating to a sell rating in a report issued on Tuesday.

A number of other equities research analysts have also weighed in on the company. ValuEngine raised SunCoke Energy Partners, L.P. from a buy rating to a strong-buy rating in a research report on Wednesday, May 31st. Zacks Investment Research raised SunCoke Energy Partners, L.P. from a sell rating to a hold rating in a research report on Friday, May 19th.

Shares of SunCoke Energy Partners, L.P. (NYSE:SXCP) opened at 16.90 on Tuesday. The company has a 50-day moving average price of $17.34 and a 200 day moving average price of $16.85. SunCoke Energy Partners, L.P. has a 52 week low of $13.50 and a 52 week high of $21.95. The stock’s market capitalization is $781.17 million.

SunCoke Energy Partners, L.P. (NYSE:SXCP) last issued its earnings results on Thursday, July 27th. The energy company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.08). The firm had revenue of $200.60 million for the quarter, compared to the consensus estimate of $212.25 million. SunCoke Energy Partners, L.P. had a negative net margin of 9.52% and a positive return on equity of 14.02%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. Equities analysts forecast that SunCoke Energy Partners, L.P. will post ($1.91) EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.594 per share. This represents a $2.38 dividend on an annualized basis and a yield of 14.06%. The ex-dividend date was Friday, August 11th. SunCoke Energy Partners, L.P.’s dividend payout ratio (DPR) is presently -127.27%.

In other news, major shareholder Sun Coal & Coke Llc bought 42,739 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was acquired at an average cost of $17.13 per share, with a total value of $732,119.07. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 665,077 shares of company stock valued at $11,455,667.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of SunCoke Energy Partners, L.P. by 12.7% in the 1st quarter. Morgan Stanley now owns 4,169,812 shares of the energy company’s stock worth $64,008,000 after acquiring an additional 468,527 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of SunCoke Energy Partners, L.P. by 34.7% in the 1st quarter. Rafferty Asset Management LLC now owns 200,268 shares of the energy company’s stock worth $3,074,000 after acquiring an additional 51,559 shares in the last quarter. Alpha Cubed Investments LLC bought a new position in shares of SunCoke Energy Partners, L.P. in the 2nd quarter worth $292,000. Gendell Jeffrey L raised its position in shares of SunCoke Energy Partners, L.P. by 259.6% in the 1st quarter. Gendell Jeffrey L now owns 863,511 shares of the energy company’s stock worth $13,255,000 after acquiring an additional 623,399 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of SunCoke Energy Partners, L.P. by 16.5% in the 1st quarter. California Public Employees Retirement System now owns 67,700 shares of the energy company’s stock worth $1,039,000 after acquiring an additional 9,600 shares in the last quarter. 15.71% of the stock is owned by hedge funds and other institutional investors.

About SunCoke Energy Partners, L.P.

SunCoke Energy Partners, L.P. is engaged in the production of coke used in the blast furnace production of steel. As of December 31, 2016, the Company owned a 98% interest in Haverhill Coke Company LLC (Haverhill), Middletown Coke Company, LLC (Middletown), and Gateway Energy and Coke Company, LLC (Granite City).

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