SunCoke Energy (NYSE:SXC) Sets New 12-Month High – Here’s What Happened

SunCoke Energy, Inc. (NYSE:SXC) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.75 and last traded at $9.72, with a volume of 61171 shares traded. The stock had previously closed at $9.62.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of SunCoke Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $9.00.

SunCoke Energy Stock Up 1.4%

The firm has a market cap of $828.00 million, a PE ratio of -15.27 and a beta of 0.98. The company has a 50-day simple moving average of $8.69 and a 200-day simple moving average of $7.60. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.25 and a quick ratio of 1.37.

SunCoke Energy (NYSE:SXC) last issued its quarterly earnings results on Thursday, July 30th. The energy company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. SunCoke Energy had a positive return on equity of 6.37% and a negative net margin of 2.88%.The firm had revenue of $475.30 million for the quarter, compared to the consensus estimate of $445.20 million. During the same period in the prior year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts expect that SunCoke Energy, Inc. will post 0.2 earnings per share for the current fiscal year.

SunCoke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Monday, August 17th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, August 17th. SunCoke Energy’s dividend payout ratio (DPR) is -75.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SXC. Vanguard Group Inc. lifted its holdings in SunCoke Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,024,864 shares of the energy company’s stock valued at $50,579,000 after buying an additional 33,535 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in SunCoke Energy by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,410,182 shares of the energy company’s stock worth $35,222,000 after acquiring an additional 68,996 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of SunCoke Energy by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,663,161 shares of the energy company’s stock worth $19,175,000 after acquiring an additional 261,400 shares during the period. Geode Capital Management LLC increased its position in shares of SunCoke Energy by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,238,567 shares of the energy company’s stock worth $16,120,000 after acquiring an additional 19,084 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SunCoke Energy by 30.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,153,408 shares of the energy company’s stock valued at $15,505,000 after acquiring an additional 503,500 shares in the last quarter. 90.45% of the stock is currently owned by institutional investors.

SunCoke Energy Company Profile

SunCoke Energy, Inc is a leading independent producer of metallurgical coke and related products for the steel and foundry industries. The company specializes in manufacturing both blast furnace coke and foundry coke, offering high?quality, low?sulfur coal products that serve as essential inputs in steelmaking and metal casting processes. In addition to coke production, SunCoke provides comprehensive engineering, maintenance and environmental solutions tailored to the needs of integrated steel mills and foundries.

The company operates a network of coke production facilities across the United States, including plants in Indiana, Ohio, West Virginia and Louisiana.