SunCoke Energy Partners LP (NYSE:SXCP) declared a quarterly dividend on Monday, April 15th, Zacks reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.40 per share by the energy company on Monday, June 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.22%. The ex-dividend date of this dividend is Tuesday, May 14th.
SunCoke Energy Partners has decreased its dividend by an average of 7.8% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. SunCoke Energy Partners has a payout ratio of 100.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect SunCoke Energy Partners to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 83.3%.
Shares of NYSE:SXCP opened at $10.51 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 1.32. SunCoke Energy Partners has a 12 month low of $9.61 and a 12 month high of $17.80. The stock has a market capitalization of $500.64 million, a P/E ratio of 8.61 and a beta of 1.57.
An institutional investor recently raised its position in SunCoke Energy Partners stock. Geode Capital Management LLC boosted its position in SunCoke Energy Partners LP (NYSE:SXCP) by 94.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,131 shares of the energy company’s stock after purchasing an additional 30,203 shares during the period. Geode Capital Management LLC owned approximately 0.13% of SunCoke Energy Partners worth $661,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 12.45% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of SunCoke Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Friday, February 8th. TheStreet downgraded shares of SunCoke Energy Partners from a “b-” rating to a “c” rating in a research note on Wednesday, April 24th. Finally, ValuEngine downgraded shares of SunCoke Energy Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.
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SunCoke Energy Partners Company Profile
SunCoke Energy Partners, L.P., a master limited partnership, produces and sells coke used in the blast furnace production of steel in the United States. It operates in two segments, Domestic Coke and Logistics. The company also provides metallurgical and thermal coal mixing and handling terminal services, as well as operates Convent Marine Terminal, an export terminal in the United States Gulf Coast located in Convent, Louisiana.
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