SunCoke Energy, Inc. (NYSE:SXC) Sees Large Drop in Short Interest

SunCoke Energy, Inc. (NYSE:SXC) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 2,750,000 shares, a decline of 21.4% from the October 31st total of 3,500,000 shares. Based on an average trading volume of 1,070,000 shares, the short-interest ratio is currently 2.6 days.

SunCoke Energy Price Performance

NYSE:SXC traded down $0.02 during mid-day trading on Friday, reaching $12.46. 541,043 shares of the stock were exchanged, compared to its average volume of 840,965. SunCoke Energy has a 1-year low of $7.47 and a 1-year high of $12.82. The company has a current ratio of 2.22, a quick ratio of 1.27 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.05 billion, a PE ratio of 12.46 and a beta of 1.02. The business has a fifty day moving average price of $10.11 and a 200 day moving average price of $9.78.

SunCoke Energy (NYSE:SXC) last issued its earnings results on Thursday, October 31st. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.14. SunCoke Energy had a net margin of 4.37% and a return on equity of 12.95%. The firm had revenue of $490.10 million during the quarter, compared to analysts’ expectations of $412.70 million. During the same period last year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts expect that SunCoke Energy will post 1.14 earnings per share for the current fiscal year.

SunCoke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.48 annualized dividend and a yield of 3.85%. SunCoke Energy’s payout ratio is presently 48.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of SunCoke Energy by 1.1% in the first quarter. Vanguard Group Inc. now owns 6,843,301 shares of the energy company’s stock valued at $77,124,000 after purchasing an additional 77,649 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in SunCoke Energy by 10.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 78,993 shares of the energy company’s stock worth $889,000 after acquiring an additional 7,496 shares during the period. Price T Rowe Associates Inc. MD grew its stake in SunCoke Energy by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 62,728 shares of the energy company’s stock valued at $707,000 after acquiring an additional 3,570 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in SunCoke Energy by 2.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 99,682 shares of the energy company’s stock valued at $1,123,000 after acquiring an additional 2,539 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in shares of SunCoke Energy by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 92,532 shares of the energy company’s stock valued at $907,000 after purchasing an additional 1,464 shares during the period. 90.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on SXC. StockNews.com upgraded SunCoke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and issued a $13.00 price objective on shares of SunCoke Energy in a report on Tuesday, November 5th.

About SunCoke Energy

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.