Suncoke Energy Partners fka SXCP

[Watch30]

Loaded up about 2-3 weeks ago. AC trip :: down about 2k. But get free penthouse rooms , all free top restaurants , shows ,gifts. , and cash cards to the ranger outlets.

[tdeck]

Figured I would ask you here because no one posts here, won't get any feathers ruffled.

I would make it private but gave up the private message thing a week ago, been meaning to kept forgetting until the day they kept charging me, I hardly used it and most I sent them too didn't either so it was a waste of $15 a month.

So anyway the reason for my post, did you do well your last trip to the tables when you said you went into the Francesca's near the casino and also did you get my PM about that stock I said would be good to load about $4?

It did a nice little dance up there didn't it.

Me I was cheap and waiting for $4 on the nose, I mean I already have near a couple hundred K but was kicking myself for not adding at least 10K to flip on ride up from bottom there.

Alright brother, this summer we will do that Saaphire and tonic will be in your neck of the woods will message you and set it up if your in town.

Peace out.

[eastunder]

SunCoke Energy, Inc. (SXC) ("SunCoke") and SunCoke Energy Partners, L.P. (SXCP) ("SXCP") today announced that SunCoke has completed its previously announced acquisition of all of SXCP's outstanding common units not already owned by SunCoke. Following this acquisition, SXCP's common units are no longer traded publicly on the New York Stock Exchange

https://finance.yahoo.com/news/suncoke-energy-inc-completes-acquisition-142800742.html

[tomasini]

Steel industry in the tank. Sxcp tanking with it

[Watch30]

Thank you. Hope so. Also started in mmlp , Smlp , and added to ngl holdings Hoping for the best.

[lawrenzo]

bottoming out and 13% dividend(.40 per quarter)...good spot to enter...

[Watch30]

Started a position here today. Good luck to us.

[tomasini]

Well. They can buy on the cheap out $15.

[tomasini]

And just the opposite happened.

[couldbebetter]

The fact that the parent owns so much SXCP and is actively buying more
makes this a very good investment. Why would they be buying so much
unless they ultimately had a plan to pick up the remaining shares in
due time. Of course, the more SXCP the parent has the more cash-flow
they have to continue buying shares. In other words the more they buy,
the more money they will receive to buy more in the future.

[lawrenzo]

it seems that all the recent buys have been at market at the time of
acquisition. they hold 61% of the common shares and with the current
dividend of 12.93%(over $.59 per share) they can continue to add to their
position as long as someone wants to sell...

i am just enjoying this cash cow and will ride it as long as possible...

Equity

Held by public:

Common units 17,958,420, and 20,800,181 units issued at December 31, 2017 and 2016, respectively) 207.0 296.9

Held by parent:

Common units 28,268,728 and 25,415,696 units issued at December 31, 2017 and 2016, respectively) 365.4 410.3

[couldbebetter]

The parent company will buy "oportunisticly" which means only when the
price is low enough for them to justify. I can't imagine them ever reducing the distribution as that would impact SXC negatively. I think
the new CEO indicated that they would not increase SXCP's distribution.

[lawrenzo]

it has been a while since the LLC has picked up more shares...
but they did today...

Common Units 2/9/2018 P (1) 7854 A $17.9693 28400916

which increases the LLC's holdings to the above over 28 million...

so as someone has said here about what the future holds for this
stock...but it is the stock that just keeps on giving with the
dividend over 12.5%...and it looks like it might run up again...
into the $20 ???

[lawrenzo]

LISLE, Ill., Jan. 22, 2018 /PRNewswire/ -- Today, the SunCoke Energy Partners, L.P. (NYSE: SXCP) Board of Directors declared a fourth quarter 2017 cash distribution of $0.5940 per limited partnership unit, or $2.38 annualized. The fourth quarter 2017 distribution will be payable on March 1, 2018, to unitholders of record on February 15, 2018.

[Imagineer66]

Normal movement for this stock. Look over the last two years, the chart is sawtooth.

[GBoone]

This week has been down right ugly. Down $ 1.40 PS
this week. Any thoughts that just maybe the parent
company has anything to do with this ???

[GBoone]

I agree 100%. Thanks for your contribution to this board, great post...

[Couch]

Indeed GBoone; SXCP is having a nice run lately. The RSI is screaming high right now. Would like to see a small pullback to cool it down a touch before a continued climb. The company is easily worth $25 and therefore we should see SXC continue to buy on any dip. What I'm wondering about is SXC buying enough shares and not selling them that eventually the price per share will move up ~~~ Is this what we have seen as of late?

I haven't seen any news other than the tax cut, china continuing to buy coke and Trump's infrastructure push.

Whatever is going on it's a good time to own and continue to own SXCP in my opinion.

[GBoone]

Thanks Couch for your opinion.
What a great day to be a holder of SXCP.....

[Couch]

IMO by 2020 SXC will buy SXCP and that concern of a lowered dividend is certainly a reasonable risk to worry about......however, there still remains a decent amount of upside at current prices, not to mention the recent 15% rise in a short few weeks recently. One could always continue to buy shares, let them drip and then sell on the day the buyout is offered.

In the short run, Trump's push to develop the USA's infrastructure.....SXCP could easily be juiced in a positive way by this.

[GBoone]

Great post Couch, have been invested in SXCP for nearly
two years, am very happy. My concern is, if SXC takes over
will we lose our dividend, or maybe be looking at a reduced
dividend. Good Luck to all......

[Couch]

Solid SXCP article - I'd say fair value for a buyout has to be at or above $22 for starters.

SunCoke Energy Partners: 14% Yield And Potential Takeout Makes For A Compelling Buy
https://seekingalpha.com/article/4135916-suncoke-energy-partners-14-percent-yield-potential-takeout-makes-compelling-buy?app=1&auth_param=404mr:1d59mrd:23799c1ff5a344eb208946a1e1c67f49&uprof=45

Summary

SXCP owns 4 facilities producing metallurgical coke which is a key input in the steel-making process.

The current yield is sustainable due to long-term take-or-pay contracts covering 100% of SXCP's sales.

Even if SXCP's EBITDA per ton is cut 30% when contracts are renewed between 2020 and 2032, the stock is still worth $21 (+21% upside).

If the coke industry tightens due to closures of competitors' aging plants and SXCP's contracts are renewed at current prices, shares are worth $30 (+72% upside).

The recent change in CEO/Chairman could be a catalyst for parent company SXC to revisit a buy-out of SXCP - this time, at a price that reflects fair value.

[couldbebetter]

Anyone care to comment on Henderson's pending retirement and his replacement? What might this mean for SXCP's future? The new guy
sounds like a consumate professional with experience in steel. I hope the more substantial investors here eventually talk to him about keeping
SXCP public. If SXC wants to acquire additional SXCP units, fine, but if ever they make another takeout bid, it had better be a fair one.

[couldbebetter]

Couch, The 8 1/2 is from a comment from a Seeking Alpha article, and the person did not provide a source so it may be just be an opinion. However, if you were to figure out the distibution from the 8 1/2 it would be 11.765%, assuming a 100% payout. I think I read that SXCP had distributable cash flow of $40 million for the 3rd qtr. So, 40m X 4=$160m
$160m X 8.5 = $1,360 m = 29.44 per unit. 46.2 units total.

With management buying units at nearly 18 for cash obviously they know that they are worth more than that. Still, I think they would offer only a 10-20% premium over 18. So, 19.80-21.60 would be my guess as to what they would offer today.

Should the market experience a flash crash or some massive selloff, this would be a good stock to buy. Maybe at some point if SXC gets high enough, they could use the same or even a lower ratio to get SXCP at a higher price than offered previously.

[Couch]

In general an MLP should be fully valued at 8 1/2 X distributable cash. Based on 3 qtr numbers that would be $40 million X 4 = $160 million X 8.5 =
$1360 million or $29.44 per unit. You are probably correct that SXC could get SXCP for $21 or so, but the true value is certainly higher than that. Maybe they will continue to buy at these "low" prices knowing that eventually they will have to pay higher for the hard core holdouts.

Appreciate your thoughts and the due diligence spelled out in such fashion. I agree the true value of SXCP is likely higher than $21. I was thinking along the lines if SXC offered $17.80 in the previous scenario and SXCP's BOD turned it down - that SXC would have to pony up at least 20% above that number to be taken seriously.

It certainly appears that management is serious about growing the business and knocking down the debt as quick as possible.

Say Could be better - you mind running me through where you found the info that an MLP should be fully valued at 8 1/2 distributable cash? Plus, how you came up with the other numbers especially the $29.44 per unit.

All the best,
Couch

[couldbebetter]

Couch, Appreciate your comments to my questions. Yesterday I spoke with the IR guy to get a few questions answered. My take is that SXC will not be making a renewed takeover bid anytime soon. I believe SXC sees the current price as a good opportunity to add to their 60% (or so) stake.

In general an MLP should be fully valued at 8 1/2 X distributable cash. Based on 3 qtr numbers that would be $40 million X 4 = $160 million X 8.5 =
$1360 million or $29.44 per unit. You are probably correct that SXC could get SXCP for $21 or so, but the true value is certainly higher than that. Maybe they will continue to buy at these "low" prices knowing that eventually they will have to pay higher for the hard core holdouts.

Earnings should be at their best once all of the refurbishment work is complete. So 2019 - 2020 earnings should really look good. That could boost the MLP units but management will likely opt to use additional earnings to pay down debt (not to mention to keep SXCP units low so they can continue to acquire more.)

This is an interesting situation/play that could work out well for all holders so long as management continues to reduce debt and grow business.

[Couch]

SunCoke Energy Partners, L.P. (SXCP) Major Shareholder Sun Coal & Coke Llc Buys 23,127 Shares

https://www.americanbankingnews.com/2017/10/30/suncoke-energy-partners-l-p-sxcp-major-shareholder-sun-coal-coke-llc-buys-23127-shares.html

SunCoke Energy Partners, L.P. (NYSE:SXCP) major shareholder Sun Coal & Coke Llc bought 23,127 shares of the company’s stock in a transaction on Monday, October 30th. The stock was bought at an average cost of $17.97 per share, with a total value of $415,592.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Get SunCoke Energy Partners L.P. alerts:
On Friday, October 27th, Sun Coal & Coke Llc bought 6,060 shares of SunCoke Energy Partners, L.P. stock. The stock was bought at an average cost of $18.00 per share, with a total value of $109,080.00.

On Wednesday, October 25th, Sun Coal & Coke Llc bought 18,284 shares of SunCoke Energy Partners, L.P. stock. The stock was bought at an average cost of $17.82 per share, with a total value of $325,820.88.

On Monday, October 23rd, Sun Coal & Coke Llc bought 9,817 shares of SunCoke Energy Partners, L.P. stock. The stock was bought at an average cost of $17.71 per share, with a total value of $173,859.07.

On Friday, October 20th, Sun Coal & Coke Llc bought 7,900 shares of SunCoke Energy Partners, L.P. stock. The stock was bought at an average cost of $17.81 per share, with a total value of $140,699.00.

On Wednesday, October 18th, Sun Coal & Coke Llc purchased 7,900 shares of SunCoke Energy Partners, L.P. stock. The shares were acquired at an average cost of $17.78 per share, with a total value of $140,462.00.

On Tuesday, October 17th, Sun Coal & Coke Llc purchased 8,800 shares of SunCoke Energy Partners, L.P. stock. The shares were acquired at an average cost of $17.77 per share, with a total value of $156,376.00.

On Monday, October 16th, Sun Coal & Coke Llc purchased 27,605 shares of SunCoke Energy Partners, L.P. stock. The shares were acquired at an average cost of $17.61 per share, with a total value of $486,124.05.

On Tuesday, October 10th, Sun Coal & Coke Llc purchased 7,830 shares of SunCoke Energy Partners, L.P. stock. The shares were acquired at an average cost of $17.48 per share, with a total value of $136,868.40.

On Wednesday, October 11th, Sun Coal & Coke Llc purchased 16,525 shares of SunCoke Energy Partners, L.P. stock. The shares were acquired at an average cost of $17.54 per share, with a total value of $289,848.50.

On Monday, October 9th, Sun Coal & Coke Llc purchased 30,156 shares of SunCoke Energy Partners, L.P. stock. The shares were acquired at an average cost of $17.31 per share, with a total value of $522,000.36.

[Couch]

SXCP owns a new state of the art coke manufacturing facility when most other manufacturing plants are old and being retired. Plus the new facility is much more efficient than the older plants. SXCP operates under long term take or pay contracts - none of which terminate before 2020 and most of which last much longer. SXCP's steel customers are the giants of the industry and are creditworthy. Over the long term, SXCP has been reducing debt from $941 million in Q3 2015 to $813 million in Q1 2017. If that 600 million you mention is for debt in the current quarter than I'd say SXCP is doing a solid job of knocking its debt down.

While I haven't looked at when the debt is due plenty of companies have been pushing their debt out further with lower interest rates. I wouldn't be surprised to see SXCP due this if SXC doesn't buy them out within the next 6 months. An SXC will need IMO to offer SXCP 20% higher than the previous buyout price of $17.80. So anything about $21 and I'd bet the buyout goes through this time.

Q1 2017 - First quarter numbers looke very good. In comparison with Q1 2016, EBITDA was up to $50.9 million from $47.3 million. DCF was down to $37.1 million from $45.9 million largely due to the $7 million dollar impact of the corporate cost holiday in Q1 2016. The most variable part of SXCP's business - coal logistics - is doing very well with the Convent terminal experiencing the highest volumes since its acquisition in 2015.

The most recent quarter EBITDA guidance for the full year ($210-220 million). I'm expecting 220 million so I don't see a problem with SXCP's debt load moving forward. In fact the company's numbers were the company's best ever from an operating perspective.

That should answer a few of your questions though not all. Let's call it a start shall we.

Appreciate the questions.

My best,
Couch

[couldbebetter]

A new question for this board: What would be a "fair" price for SXC to pay for the remaining SXCP units? Answer as both a dollar amount and as a ratio for SXC shares (assuming an SXC all stock transaction.)

Also, what would be the optimal time to do such a transaction and why?

[couldbebetter]

A few questions for this board. How will SXCP be paying its debt, especially the 600 million? Do you think it will be replaced with a debt that will then be due further out? SXC now owns 60% and has allocated additional funds to purchase even more. What are the prospects for a distribution increase? If SXC were to attempt a new buyout, what would be the optimal time frame to do this? (2020? 2019? etc., why?) Finally, how does tax reform affect this?

[Couch]

SunCoke Energy Partners, L.P. Announces Strongest Ever Quarterly Operating Performance With Third Quarter 2017 Results

https://finance.yahoo.com/news/suncoke-energy-partners-l-p-104500540.html

- Net income attributable to SXCP was $22.6 million in the third quarter 2017, up $1.3 million versus the same prior year period

- Adjusted EBITDA attributable to SXCP was $57.4 million for the quarter, up $12.6 million or ~28% versus the prior year period due to higher sales volumes in our logistics business as well as improved coke performance

- Declared third quarter 2017 distribution of $0.5940 per unit; third quarter 2017 Distributable Cash Flow ("DCF") and Distribution Cash Coverage Ratio ("Cash Coverage") of $39.7 million and 1.35x, respectively

- Handled first shipment of crushed stone (aggregates) for new customer at CMT facility; also successfully handled first trial shipments of rail-borne petcoke in early-October

- Well positioned to achieve top end of full-year 2017 Adjusted EBITDA attributable to SXCP guidance of $210 million to $220 million

LISLE, Ill., Oct. 26, 2017 /PRNewswire/ -- SunCoke Energy Partners, L.P. (SXCP) today reported results for the third quarter 2017, which reflect strong operating results across SXCP's coke and logistics businesses. The third quarter also benefited from the timing of scheduled outages at our cokemaking facilities.

"Our third quarter operating performance was the best in SXCP's history after adjusting for the timing impact related to Convent's deferred revenue in the fourth quarter of each year," said Fritz Henderson, Chairman, President and Chief Executive Officer of SunCoke Energy, Inc. "This record-setting quarter, coupled with our performance in the first half of the year, position us to achieve the top end our full-year 2017 Adjusted EBITDA guidance."

During the quarter, SunCoke's Convent Marine Terminal received its first shipment of crushed stone (aggregates) under a multi-year contract with firm use commitments. In addition, the terminal also successfully handled its first trial shipments of rail-borne petcoke for two refinery customers in early-October.

Henderson continued, "Our team has aggressively pursued new opportunities for diversifying our product and customer mix since acquiring Convent in mid-2015, and we are pleased with the progress we have made over the last few quarters. Going forward, we believe that we can leverage the terminal's capabilities to enter new vertical markets, expand existing products and grow Adjusted EBITDA by $5 million to $10 million over the next two years."

[Couch]

$SXCP - SXC just continues to buy more and more shares.

Sun Coal & Coke Llc Purchases 18,284 Shares of SunCoke Energy Partners, L.P. (SXCP) Stock https://www.americanbankingnews.com/2017/10/25/sun-coal-coke-llc-purchases-18284-shares-of-suncoke-energy-partners-l-p-sxcp-stock.html

On Monday, October 23rd, Sun Coal & Coke Llc purchased 9,817 shares of SunCoke Energy Partners, L.P. stock. The stock was bought at an average cost of $17.71 per share, with a total value of $173,859.07.

On Friday, October 20th, Sun Coal & Coke Llc acquired 7,900 shares of SunCoke Energy Partners, L.P. stock. The stock was acquired at an average price of $17.81 per share, for a total transaction of $140,699.00.

On Wednesday, October 18th, Sun Coal & Coke Llc acquired 7,900 shares of SunCoke Energy Partners, L.P. stock. The stock was acquired at an average price of $17.78 per share, for a total transaction of $140,462.00.

On Tuesday, October 17th, Sun Coal & Coke Llc acquired 8,800 shares of SunCoke Energy Partners, L.P. stock. The stock was acquired at an average price of $17.77 per share, for a total transaction of $156,376.00.

On Tuesday, October 10th, Sun Coal & Coke Llc acquired 7,830 shares of SunCoke Energy Partners, L.P.
stock. The stock was acquired at an average price of $17.48 per share, for a total transaction of $136,868.40.

On Wednesday, October 11th, Sun Coal & Coke Llc acquired 16,525 shares of SunCoke Energy Partners, L.P. stock. The stock was acquired at an average price of $17.54 per share, for a total transaction of $289,848.50.

On Monday, October 9th, Sun Coal & Coke Llc acquired 30,156 shares of SunCoke Energy Partners, L.P. stock. The stock was acquired at an average price of $17.31 per share, for a total transaction of $522,000.36.

On Wednesday, October 4th, Sun Coal & Coke Llc acquired 10,076 shares of SunCoke Energy Partners, L.P. stock. The stock was acquired at an average price of $17.16 per share, for a total transaction of $172,904.16.

On Tuesday, October 3rd, Sun Coal & Coke Llc acquired 9,365 shares of SunCoke Energy Partners, L.P. stock. The stock was acquired at an average price of $17.25 per share, for a total transaction of $161,546.25.

On Monday, October 2nd, Sun Coal & Coke Llc acquired 27,259 shares of SunCoke Energy Partners, L.P. stock. The stock was acquired at an average price of $17.20 per share, for a total transaction of $468,854.80.

[Couch]

$SXCP - major shareholder Sun Coal & Coke Llc bought 9,817 shares of the stock in a transaction dated Monday, October 23rd. The shares were bought at an average cost of $17.71 per share, for a total transaction of $173,859.07.

https://ih.advfn.com/p.php?pid=nmona&article=75920539

SXC owns 27,559,440 of SXCP's Outstanding Shares: 46,223,000

[Couch]

$SXCP looking to set up nicely on the upcoming 10Q!

$212.86 Million in Sales Expected for SunCoke Energy Partners, L.P. (SXCP) This Quarter https://www.americanbankingnews.com/2017/10/19/212-86-million-in-sales-expected-for-suncoke-energy-partners-l-p-sxcp-this-quarter.html

Wall Street analysts expect that SunCoke Energy Partners, L.P. (NYSE:SXCP) will report sales of $212.86 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for SunCoke Energy Partners, L.P.’s earnings, with the highest sales estimate coming in at $231.90 million and the lowest estimate coming in at $193.82 million. SunCoke Energy Partners, L.P. reported sales of $185.50 million in the same quarter last year, which suggests a positive year over year growth rate of 14.7%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, October 26th.

[Couch]

SXC continues buying SXCP at an aggressive pace - can you say BUYOUT $$$$$$

-major shareholder Sun Coal & Coke Llc bought 8,800 shares of the stock in a transaction dated Tuesday, October 17th. The shares were bought at an average cost of $17.77 per share, for a total transaction of $156,376.00.

-major shareholder Sun Coal & Coke Llc bought 7,900 shares of the stock in a transaction dated Wednesday, October 18th. The shares were bought at an average cost of $17.78 per share, for a total transaction of $140,462.00.

[Couch]

Going to need an expert lawyer on this one!

https://ih.advfn.com/p.php?pid=nmona&article=75880986

[Couch]

SunCoke Energy Partners, L.P. Declares Distribution Of $0.5940 Per Unit
https://finance.yahoo.com/news/suncoke-energy-partners-l-p-220000203.html

LISLE, Ill., Oct. 17, 2017 /PRNewswire/ -- Today, the SunCoke Energy Partners, L.P. (SXCP) Board of Directors declared a third quarter 2017 cash distribution of $0.5940 per limited partnership unit, or $2.38 annualized. The third quarter 2017 distribution will be payable on December 1, 2017, to unitholders of record on November 15, 2017.

SunCoke Energy Partners, L.P.

UPCOMING EVENTS
SXCP will host its third quarter 2017 earnings call at 10:00 am ET on October 26, 2017. The conference call will be webcast live and archived for replay in the Investors section of www.suncoke.com. Investors may participate in this call by dialing 1-833-236-5757 in the U.S. or 1-647-689-4185 if outside the U.S., confirmation code 89455983.

ABOUT SUNCOKE ENERGY PARTNERS, L.P.
SunCoke Energy Partners, L.P. (SXCP) is a publicly traded master limited partnership that manufactures high-quality coke used in the blast furnace production of steel and provides export and domestic coal handling services to the coke, coal, steel and power industries. In our cokemaking business, we utilize an innovative heat-recovery technology that captures excess heat for steam or electrical power generation and have long-term, take-or-pay coke contracts that pass through commodity and certain operating costs. Our coal handling terminals have the collective capacity to blend and transload more than 35 million tons of coal each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports. SXCP's General Partner is a wholly owned subsidiary of SunCoke Energy, Inc. (SXC), which has more than 50 years of cokemaking experience serving the integrated steel industry. To learn more about SunCoke Energy Partners, L.P., visit our website at www.suncoke.com.

[Couch]

SunCoke Energy Partners, L.P. (NYSE:SXCP) will be releasing earnings before the market opens on Wednesday, October 18

[Couch]

Let's hope their is some tax relief for MLPs coming S80!

Will MLPs Retain Tax Favored Status?
Tortoise thinks MLPs may qualify for proposed new lower rates for pass-through income.

http://www.barrons.com/articles/will-mlps-retain-tax-favored-status-1506991982

The tax status of master limited partnerships under President Trump's tax plan is still up in the air. But Tortoise Capital Advisors thinks MLPs will still retain tax benefits.

Tortoise portfolio manager Rob Thummel sums up in a podcast Monday:

While the details will be in the hands of the taxwriting committee, we still believe that MLPs will retain their favorable tax status. Based on the information released, we think MLP investors could benefit from the new tax framework as pass through income will be taxed at 25% compared to higher ordinary income tax rates today. Those are the highlights from last week.
Thummel was a source in a recent Barron's column explaining why these energy infrastructure investments started rising right about the time that Hurricane Harvey made landfall in Texas (See, "MLPs Stage a Surprise Comeback").

He told Barron's:

“MLPs have been on sale the entire year,” says Thummel, but he sees a near-term catalyst if OPEC extends production cuts. Two of his top holdings are Enterprise Products Partners (EPD), which has a 6.5% dividend yield and a track record of growing its dividend each year around 5%, and EQT Midstream Partners (EQM), a natural-gas name with a 5% yield that Thummel thinks can grow at double-digit levels.
The benchmark-tracking Alerian MLP ETF (AMLP) has rebounded from August lows as some value investors have swooped in.

[Couch]

Well paying taxes aren't easy on the retail investor that is for sure.

One thing is for certain SXCP's parent company sure isn't worried about it.

Sun Coal & Coke Llc bought 27,605 shares of the firm's stock in a transaction dated Monday, October 16th. The shares were purchased at an average price of $17.61 per share, for a total transaction of $486,124.05.

https://ih.advfn.com/p.php?pid=nmona&article=75871525

[Scotttrader80]

It is a unpleasant lesson But! I made over 6 figures with SXCP and the other MLP's, sometimes you gotta pay the piper :(. The brokerage has had its issues so with this last surprise, it was the straw that broke the camels back. Had these taxes been submitted along with my annuals, with deductions the sting wouldnt have been so hard to swallow.

SXCP wasnt the only culprit, AMID, SUN, EDT, SDT, SDR and STON all MLP's added to the fury.

[jugs]

That's a rough lesson learned, I must say. My obvious question:

Did you profit from nicely accumulated gains or did you end up on the short straw?

I've not had an unpleasant experience, myself, thankfully.

As for dropping the brokerage? I don't see how they could earn blame as it's part of their domain that rules are followed and information submitted. Your accountant would be another story for me.

[Scotttrader80]

I was trading SXCP in my IRA, then got a notification from about some rule changes from my broker that they've decided to pay the UBItaxes for me.(so kind, NOT!) When I got their Pricewaterhouse accountants 21 page tally I was NOT HAPPY to see it. I would have prefered to have my accountant earn his keep instead of being tangled up in this fiasco but it is what it is. Now Im leary of all MLP's as they usually have the highest payouts AND dropping my broker for one who isnt so stuffy. Lesson learned.

[jugs]

Some MLPs have been so profitable as to have many investors not concerned with Uncle Sam receiving a benefit. I ride free and clear of cumbersome issues as much as I can and pay my CPA to cover my exposed areas. With an enormously profitable 2016 I still got back a hefty sum from the government despite my being invested largely in MLPs.

Looking over my shoulder in fear of the Tax Monster is not my style. I'm on the team of America and I happily accept costs therein. I do understand others may find themselves unable to walk the same path.

[Scotttrader80]

Just check with your broker over it and see. No one likes unexpected surprises. And here is a list of MLPs to look over, SXCP is listed;

https://www.mlpassociation.org/mlp-101/list-of-current-mlps/

[Couch]

Thanks most kindly S80 - on the surface of this aforementioned dissertation, I'm glad I hold SXCP in my non IRA account. I'm almost fearful to ask the problems of holding SXCP in my regular account?

[Scotttrader80]

read up and save up cause when that bill comes, it wont be pretty

https://www.mlpassociation.org/mlp-101/mlps-and-retirement-accounts-2/

[jugs]

This is a reference to activities involving a not-for-profit entity. I'm not recognizing the implied applicability.

Consolidation of assets between two conspicuously independent yet related concerns are altogether commonplace and should pose no threat to unitholders as far as I can see. But perhaps there's more here than I'm seeing?

[Couch]

S80 - that sounds like a dissertation waiting to unfold....any helpful hints in this department given I already own SXCP but haven't yet been through tax season with it?

[Scotttrader80]

Only thing I can say about SXCP is that they are a MLP and subject to UBI taxes which can put a dent into your distribution come tax time.