SunCoke Energy Partners LP (NYSE:SXCP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $17.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.58% from the company’s current price.
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 15.10 on Wednesday. The firm’s 50-day moving average is $14.52 and its 200-day moving average is $12.43. SunCoke Energy Partners has a 12 month low of $5.16 and a 12 month high of $15.75. The stock has a market capitalization of $697.77 million, a P/E ratio of 7.58 and a beta of 1.19.
SunCoke Energy Partners (NYSE:SXCP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.23 earnings per share (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 analyst estimates of $185.40 million. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, equities analysts expect that SunCoke Energy Partners will post $1.76 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of SXCP. Tocqueville Asset Management L.P. acquired a new stake in SunCoke Energy Partners during the second quarter worth $2,007,000. ING Groep NV acquired a new stake in SunCoke Energy Partners during the first quarter worth $638,000. Renaissance Technologies LLC acquired a new stake in SunCoke Energy Partners during the first quarter worth $572,000. Geode Capital Management LLC raised its stake in SunCoke Energy Partners by 96.7% in the first quarter. Geode Capital Management LLC now owns 81,598 shares of the company’s stock worth $603,000 after buying an additional 40,106 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in SunCoke Energy Partners by 15.7% in the first quarter. Goldman Sachs Group Inc. now owns 254,632 shares of the company’s stock worth $1,882,000 after buying an additional 34,466 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.