What a difference a few hours make for shareholders of Southcross Energy Partners LP (NYSE:SXE). With the stock setting a 52-week low before closing yesterday, today has been a complete turnaround for shareholders of the Arlington, Virginia-based information technology company.
The share price has steadily been climbing all morning and afternoon, with volume coming in at twice the daily average. The stock is up 35.98% or $0.86, hitting $3.25 per share. About 368,968 shares traded hands or up 65.48% from the average. SXE has declined 83.63% since May 19, 2015 and is currently downtrending. It has underperformed the S&P500 by 81.37%.
From a total of 5 analysts covering Southcross Energy Partners (NYSE:SXE) stock, 3 rate it a “Buy”, 1 a “Sell”, and 1 a “Hold”. This means that 60% of the ratings are positive. The highest target price is $10 while the lowest target price is $8. The mean of all analyst targets is $9.67 which is 197.54% above today’s ($3.25) stock price. Southcross Energy Partners was the topic of 7 analyst reports since August 8, 2015 according to the firm StockzIntelligence Inc. Wunderlich reinitiated shares on October 20 with a “Buy” rating. Stifel Nicolaus downgraded SXE stock in a recent report from August 10 to a “Buy” rating.
The institutional sentiment decreased to 0.57 in Q2 2015. It’s down 0.20, from 0.77 in 2015Q2. The ratio dropped, as 7 funds sold all their Southcross Energy Partners LP shares they owned while 16 reduced their positions. 6 funds bought stakes while 7 increased their total positions. Institutions now own 13.12 million shares which is 10.91% more than the previous share count of 11.83 million in 2015Q2.
Spirit Of America Management Corp Ny holds 0.4% of its total portfolio in Southcross Energy Partners LP, equating to 390,965 shares. Zimmer Partners Lp owns 994,053 shares representing 0.37% of their total US portfolio. Moreover, Advisory Research Inc has 0.21% of their total portfolio invested in the company, equating to 2.97 million shares. The Texas-based Eagle Global Advisors Llc has a total of 0.05% of their portfolio invested in the stock. Gsa Capital Partners Llp, a United Kingdom-based fund reported 119,488 shares owned.
Southcross Energy Partners, L.P. is a limited partnership. The company has a market cap of $147.79 million. The Firm provides natural gas gathering, processing, treating, compression and transportation services and natural gas liquid fractionation and transportation services. It currently has negative earnings. The Firm also sources, purchases, transports and sells natural gas and NGLs.