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Stock impact report

SunCoke Energy - Revulsion Creates Compelling Opportunity [Seeking Alpha]

SunCoke Energy, Inc. (SXC) 
Last suncoke energy, inc. earnings: 1/29 06:45 am Check Earnings Report
Company Research Source: Seeking Alpha
SunCoke Energy - Revulsion Creates Compelling Opportunity Summary SXC has just completed a simplification transaction with SXCP, its MLP affiliate. Many investors felt "burned" by the transaction. Investors who had held SXCP for yield have likely jumped ship. SXC is now trading for roughly four times free cash flow. Its business is protected by take of pay contracts and its balance sheet is solid. The Simplification Transaction At the end of June, SXC completed a simplification transaction in which it took over its MLP affiliate SXCP. SXCP unit holders received 1.4 shares of SXC for each unit of SXCP. It appears that a good number of investors felt that the transaction was not fair to SXCP owners. In addition, many investors likely held SXCP largely for the very high distribution yield it produced. When SXC announced the transaction earlier this year, it indicated that it would likely announce dividends at the rate of 24 cents per year starting in the first full quarter for the merged Show less Read more
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