News

Nov 26, 2023

Van ECK Associates Corp Increases Position in SunCoke Energy

Van ECK Associates Corp increased its position in shares of SunCoke Energy, Inc. (NYSE:SXC) by 38.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange

Van ECK Associates Corp increased its position in shares of SunCoke Energy, Inc. (NYSE:SXC) by 38.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,198 shares of the energy company’s stock after purchasing an additional 31,393 shares during the quarter. Van ECK Associates Corp’s holdings in SunCoke Energy were worth $1,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SXC. Pacer Advisors Inc. bought a new stake in SunCoke Energy during the first quarter worth about $11,482,000. Invesco Ltd. lifted its holdings in shares of SunCoke Energy by 54.5% in the first quarter. Invesco Ltd. now owns 2,769,376 shares of the energy company’s stock worth $24,675,000 after acquiring an additional 976,760 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of SunCoke Energy by 636.5% in the fourth quarter. Millennium Management LLC now owns 1,046,047 shares of the energy company’s stock worth $9,027,000 after acquiring an additional 904,016 shares during the last quarter. State Street Corp lifted its holdings in shares of SunCoke Energy by 14.7% in the first quarter. State Street Corp now owns 5,744,846 shares of the energy company’s stock worth $51,187,000 after acquiring an additional 738,414 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of SunCoke Energy by 265.7% in the first quarter. Federated Hermes Inc. now owns 766,552 shares of the energy company’s stock worth $6,831,000 after acquiring an additional 556,928 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

A number of research firms have recently commented on SXC. Benchmark increased their target price on shares of SunCoke Energy from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley cut shares of SunCoke Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $12.00 to $11.00 in a report on Thursday. Finally, StockNews.com began coverage on shares of SunCoke Energy in a report on Thursday, May 18th. They issued a “buy” rating for the company.

Shares of NYSE SXC opened at $9.21 on Friday. The company has a 50 day simple moving average of $8.06 and a 200 day simple moving average of $8.48. The firm has a market cap of $771.43 million, a PE ratio of 8.69 and a beta of 1.30. SunCoke Energy, Inc. has a 1 year low of $5.72 and a 1 year high of $10.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.72 and a quick ratio of 0.75.

SunCoke Energy (NYSE:SXC) last issued its quarterly earnings data on Thursday, May 4th. The energy company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $487.80 million during the quarter, compared to analyst estimates of $363.30 million. SunCoke Energy had a net margin of 4.38% and a return on equity of 14.35%. On average, research analysts forecast that SunCoke Energy, Inc. will post 0.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a positive change from SunCoke Energy’s previous quarterly dividend of $0.08. SunCoke Energy’s dividend payout ratio (DPR) is 30.19%.

SunCoke Energy, Inc operates as an independent producer of coke in the Americas and Brazil. The company operates through three segments: Domestic Coke, Brazil Coke, and Logistics. It offers metallurgical and thermal coal. The company also provides handling and/or mixing services to steel, coke, electric utility, coal producing, and other manufacturing based customers.