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UPDATE: Stifel Reiterates On Southcross Energy Partners LP As Processing Volumes Are Increasing

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In a report published Monday, Stifel analyst Selman Akyol reiterated a Buy rating on Southcross Energy Partners LP (NYSE: SXE), but lowered the price target from $25.50 to $22.00.

In the report, Stifel noted, “Southcross is a gathering and processing MLP with assets primarily located in the rapidly growing Eagle Ford in South Texas. On August 4th Southcross Energy LLC combined with TexStar Midstream Services, a private gathering and processing partnership. Together, the combined assets place the new partnership in the top five gathering and processing companies in the Eagle Ford. Southcross Energy Partners now has a larger footprint as well as pipeline of dropdown assets to support its growth profile. While we continue to expect distributions to be flat through the end of the year, we expect distribution growth to begin in 2015. Management is also holding it first analyst day early December and we anticipate getting more details as how 2015 should unfold. We continue to rate the units Buy but are adjusting our target price lower to $22.00 from $25.50.”

Southcross Energy Partners LP closed on Friday at $19.04.

Latest Ratings for SXE

DateFirmActionFromTo
Nov 2017UpgradesUnderperformMarket Perform
Mar 2016DowngradesNeutralUnderweight
Mar 2016DowngradesHoldSell

View More Analyst Ratings for SXE
View the Latest Analyst Ratings

Posted-In: Selman Akyol StifelAnalyst Color Price Target Analyst Ratings

 

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