The New Suncoke Energy, Inc Holding in Suncoke Energy Partners
Suncoke Energy, Inc filed with the SEC SC 13D/A form for Suncoke Energy Partners. The form can be accessed here: 000119312516761891. As reported in Suncoke Energy, Inc’s form, the filler as of late owns 55% or 25,415,696 shares of the Materials–company.
Suncoke Energy Partners stake is a new one for the and it was filed because of activity on October 28, 2016. We feel this shows Suncoke Energy, Inc’s positive view for the stock.
Reasons Why Suncoke Energy, Inc Bought – Suncoke Energy Partners Stock
Purpose of Transaction
Item 4 of the Original Schedule 13D is hereby amended andsupplemented by adding the following:
On October 28, 2016, SXC delivered a proposal (the “Proposal”) to the Board of Directors (the “GP Board”) ofSunCoke Energy Partners GP LLC, the general partner of the Partnership, to acquire all of the Partnership’s outstanding common units not already owned by SXC and its affiliates, in exchange for 1.65 shares of SXC’s common stock for eachissued and outstanding publicly-held common unit of the Partnership, in a transaction to be structured as a merger of the Partnership with a wholly-owned subsidiary of SXC. The Proposal is subject to the negotiation and execution of a mutuallyacceptable definitive agreement and approval of such definitive agreement and the transactions contemplated thereunder by SXC’s Board of Directors and the Conflicts Committee of the GP Board (the “GP Conflicts Committee”). Theproposed transaction also will require approval by a majority of votes cast by SXC’s common stockholders at a meeting, and approval by a majority of the Partnership’s outstanding common units, including the common units held by affiliatesof SXC. Through its affiliates, SXC owns approximately 55.0% of the Partnership’s outstanding common units which SXC intends to vote in favor of the proposed transaction. Closing of the proposed transaction also is conditioned upon receipt ofcustomary regulatory approvals.
It is anticipated that the GP Board will delegate the authority to evaluate and respond to the Proposalto the GP Conflicts Committee. There can be no assurance that a definitive agreement will be executed or that any transaction will be approved or consummated. SXC does not intend to provide any further comment on its proposal or any other plans bySXC until a definitive agreement has been reached, or unless disclosure is otherwise required under applicable securities laws.
Assumingthe completion of the proposed transaction, the Partnership will become a wholly-owned subsidiary of SXC, and the Partnership’s common units will cease to be publicly traded.
Each Reporting Person does not intend to update additional disclosures in its Schedule 13D regarding any other plans or proposals by SXC untila definitive agreement has been reached, or unless disclosure is otherwise required under applicable securities laws. A copy of the Proposal is filed hereto as Exhibit B and is incorporated by reference into this Item 4.
On October 31, 2016, SXC issued a press release announcing the Proposal, which is filed as Exhibit C hereto and is incorporated hereinby reference.
Other than as described above, none of the Reporting Persons has any plans or proposals of the type referred to in clauses(a) through (j) of Item 4 of Schedule 13D, although they reserve the right to formulate such plans or proposals in the future.
|Item5.||Interest in Securities of the Issuer|
Suncoke Energy Partners Institutional Sentiment
Latest Security and Exchange filings show 38 investors own Suncoke Energy Partners. The institutional ownership in Q3 2015 is low, at 22.04% of the outstanding shares. This is decreased by 2368364 the total institutional shares. 10186205 were the shares owned by these institutional investors. In total 9 funds opened new Suncoke Energy Partners stakes, 14 increased stakes. There were 14 that closed positions and 8 reduced them.
Fosun International Ltd is an institutional investor bullish on Suncoke Energy Partners, owning 187691 shares as of Q3 2015 for 0.18% of its portfolio. Andalusian Capital Partners Lp owns 368658 shares or 1.53% of its portfolio. NY Burnham Asset Management Corp have 0.12% of their stock portfolio for 39735 shares. Further, Hurley Capital Llc reported stake worth less than 0.01% of its US stock portfolio. The TX Adams Asset Advisors Llc owns 457549 shares. Suncoke Energy Partners is 0.95% of the manager’s US portfolio.
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. The Coal Logistics segment consists of its coal handling and mixing service operations in East Chicago, Indiana; Ceredo, West Virginia; Belle, West Virginia; Catlettsburg, Kentucky, and Convent, Louisiana. The Company’s Coal Logistics business provides its services to steel, coke (including some of its domestic cokemaking facilities), electric utility and coal mining customers.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment decreased to 0.86 in 2016 Q2. Its down 0.27, from 1.13 in 2016Q1. The ratio dived, as 9 funds sold all SunCoke Energy Partners LP shares owned while 13 reduced positions. 9 funds bought stakes while 10 increased positions. They now own 6.26 million shares or 12.52% less from 7.15 million shares in 2016Q1.
Barclays Public Ltd Com accumulated 0% or 76 shares. Jpmorgan Chase holds 0% or 22,767 shares in its portfolio. State Bank Of America De accumulated 0% or 25,296 shares. Gilman Hill Asset Mngmt Ltd Company reported 24,951 shares or 0.11% of all its holdings. Andalusian Capital Limited Partnership holds 102,953 shares or 2.45% of its portfolio. Tocqueville Asset Mgmt L P has invested 0.03% of its portfolio in SunCoke Energy Partners LP (NYSE:SXCP). Morgan Stanley last reported 3.27M shares in the company. Walleye Trading Ltd Limited Liability Company accumulated 0% or 10,250 shares. The Connecticut-based Gendell Jeffrey L has invested 0.51% in SunCoke Energy Partners LP (NYSE:SXCP). Kayne Anderson Capital L P last reported 1.09M shares in the company. Camarda Fincl Advsrs Ltd Limited Liability Company reported 200 shares or 0% of all its holdings. Allianz Asset Management Ag reported 28,210 shares or 0% of all its holdings. Moreover, Wells Fargo & Mn has 0% invested in SunCoke Energy Partners LP (NYSE:SXCP) for 11,289 shares. Kcg accumulated 0% or 13,147 shares. Goldman Sachs Gp, a New York-based fund reported 136,821 shares.
The stock closed at $18.45 during the last session. It is up 151.71% since April 5, 2016 and is uptrending. It has outperformed by 149.75% the S&P500.
SunCoke Energy Partners, L.P. is engaged primarily in producing coke used in the blast furnace production of steel. The company has a market cap of $852.63 million. The Firm also provides coal handling and/or mixing services at its Coal Logistics terminals. It has a 9.22 P/E ratio. The Company’s divisions include Domestic Coke, Coal Logistics, and Corporate and Other.
SunCoke Energy Partners LP (NYSE:SXCP) Ratings Coverage
Out of 4 analysts covering SunCoke Energy Partners (NYSE:SXCP), 2 rate it a “Buy”, 2 “Sell”, while 0 “Hold”. This means 50% are positive. $25 is the highest target while $7 is the lowest. The $15.33 average target is -16.91% below today’s ($18.45) stock price. SunCoke Energy Partners has been the topic of 6 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of SunCoke Energy Partners LP (NYSE:SXCP) earned “Outperform” rating by FBR Capital on Friday, September 18. As per Friday, October 21, the company rating was maintained by FBR Capital. Barclays Capital downgraded the shares of SXCP in a report on Monday, January 11 to “Underweight” rating. The firm has “Underperform” rating by Bank of America given on Wednesday, December 9.
More notable recent SunCoke Energy Partners LP (NYSE:SXCP) news were published by: Businesswire.com which released: “Robbins Arroyo LLP: Acquisition of SunCoke Energy Partners, L.P. (SXCP) by …” on November 01, 2016, also Reuters.com with their article: “BRIEF-Suncoke Energy Partners LP says receives proposal to buy its publi…” published on October 31, 2016, Businesswire.com published: “SunCoke Energy Partners, L.P. to Expand Coal Logistics Business with …” on July 21, 2015. More interesting news about SunCoke Energy Partners LP (NYSE:SXCP) were released by: Businesswire.com and their article: “SunCoke Energy Partners, L.P. Announces Third Quarter 2016 Results” published on October 20, 2016 as well as Seekingalpha.com‘s news article titled: “SunCoke Energy Partners LP: Is The Yield Too Good To Be True?” with publication date: October 23, 2015.
According to Zacks Investment Research, “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.”
SXCP Company Profile
SunCoke Energy Partners, L.P., incorporated on July 30, 2012, is engaged primarily in producing coke used in the blast furnace production of steel. The Firm also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s divisions include Domestic Coke, Coal Logistics, and Corporate and Other. The Company’s cokemaking ovens utilize heat recovery technology designed to combust the coal’s volatile components liberated during the cokemaking process and use the resulting heat to create steam or electricity for sale.
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