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Stock Market & Financial Investment News

News Breaks
January 31, 2014
08:16 EDTSXESouthcross Energy Partners upgraded to Outperform at Wells Fargo
Wells Fargo upgraded Southcross Energy Partners to Outperform from Market Perform citing valuation following the company's secondary offering. Wells views the company's Webb Pipeline Project as a positive and keeps a $20-$22 price target range for shares.
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December 8, 2014
14:02 EDTSXESouthcross Energy Partners repeats Q4 adjusted EBITDA view $20M- $24M
Southcross Energy Partners expects near term de-leveraging and is targeting 3.0x-4.0x leverage ratio and 1.1x-1.2x distribution coverage with "prudent use of equity" to fund growth. Southcross expects to achieve at least 1.0x coverage of common units in 1Q15 and expects to grow distributions in 2015. The company says its gross operating margin is becoming increasingly fixed fee oriented and it anticipates the ability to grow adjusted EBITDA without significant growth capital. Southcross sees its commodity sensitive margins to decline as a portion of gross operating margin, noting that its recently acquired and new contracts are largely fixed fee margins. Guidance and comments from investor day slides disclosed in a regulatory filing.
07:02 EDTSXESouthcross Energy Partners names John Bonn as president and CEO
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