Zacks Investment Research downgraded shares of SunCoke Energy Partners LP (NYSE:SXCP) from a buy rating to a hold rating in a report published on Saturday.
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. “
Shares of SunCoke Energy Partners (NYSE:SXCP) opened at 15.50 on Friday. The stock has a 50 day moving average of $14.61 and a 200-day moving average of $12.49. The stock has a market capitalization of $716.26 million, a price-to-earnings ratio of 7.79 and a beta of 1.19. SunCoke Energy Partners has a 52-week low of $5.16 and a 52-week high of $15.75.
SunCoke Energy Partners (NYSE:SXCP) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.19. The company earned $181.40 million during the quarter, compared to analyst estimates of $185.40 million. SunCoke Energy Partners’s revenue was down 12.6% compared to the same quarter last year. On average, equities research analysts predict that SunCoke Energy Partners will post $1.76 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the company. Walleye Trading LLC raised its position in SunCoke Energy Partners by 107.1% in the second quarter. Walleye Trading LLC now owns 10,250 shares of the company’s stock valued at $111,000 after buying an additional 5,300 shares during the last quarter. BB&T Securities LLC bought a new position in SunCoke Energy Partners during the second quarter valued at about $117,000. KCG Holdings Inc. bought a new position in SunCoke Energy Partners during the second quarter valued at about $142,000. Citadel Advisors LLC bought a new position in SunCoke Energy Partners during the second quarter valued at about $208,000. Finally, JPMorgan Chase & Co. raised its position in SunCoke Energy Partners by 279.5% in the second quarter. JPMorgan Chase & Co. now owns 22,767 shares of the company’s stock valued at $246,000 after buying an additional 16,767 shares during the last quarter.
About SunCoke Energy Partners
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.