There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 3, SunCoke Energy Partners LP's CEO, Frederick A. Henderson, invested $25,284.50 into 1,000 shares of SXCP, for a cost per share of $25.28. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.In trading on Friday, bargain hunters could buy shares of SunCoke Energy Partners LP ( SXCP) and achieve a cost basis 14.9% cheaper than Henderson, with shares changing hands as low as $21.51 per share. It should be noted that Henderson has collected $1.11/share in dividends since the time of their purchase, so they are currently down 10.5% on their purchase from a total return basis. SunCoke Energy Partners LP shares are currently trading up about 0.2% on the day. The chart below shows the one year performance of SXCP shares, versus its 200 day moving average: Looking at the chart above, SXCP's low point in its 52 week range is $19.20 per share, with $31.99 as the 52 week high point — that compares with a last trade of $21.73. By comparison, below is a table showing the prices at which SXCP insider buying was recorded over the last six months:
|02/03/2015||Frederick A. Henderson||Chairman and CEO||1,000||$25.28||$25,284.50|
According to the ETF Finder at ETF Channel, SXCP makes up 3.91% of the Zacks MLP High Income Shares ETF ( ZMLP) which is trading up by about 0.2% on the day Friday.