SunCoke Energy (NYSE:SXC) Lowered to Buy at StockNews.com

StockNews.com cut shares of SunCoke Energy (NYSE:SXC) from a strong-buy rating to a buy rating in a research note published on Friday.

Separately, Benchmark restated a buy rating and set a $12.00 price objective on shares of SunCoke Energy in a research report on Thursday.

SunCoke Energy Stock Performance

Shares of NYSE SXC traded up $0.18 during midday trading on Friday, reaching $10.31. 672,411 shares of the company were exchanged, compared to its average volume of 639,475. The stock has a market cap of $866.81 million, a P/E ratio of 14.49 and a beta of 1.19. SunCoke Energy has a 1 year low of $6.71 and a 1 year high of $11.48. The stock has a fifty day simple moving average of $10.81 and a 200 day simple moving average of $10.30. The company has a current ratio of 2.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75.

SunCoke Energy (NYSE:SXC) last released its earnings results on Wednesday, May 1st. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. SunCoke Energy had a return on equity of 9.48% and a net margin of 2.97%. The business had revenue of $488.40 million for the quarter, compared to analyst estimates of $549.40 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts forecast that SunCoke Energy will post 0.86 earnings per share for the current fiscal year.

SunCoke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.40 annualized dividend and a dividend yield of 3.88%. SunCoke Energy’s dividend payout ratio is currently 56.34%.

Insider Activity at SunCoke Energy

In other news, CEO Michael G. Rippey sold 122,533 shares of SunCoke Energy stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $11.11, for a total transaction of $1,361,341.63. Following the completion of the sale, the chief executive officer now directly owns 521,073 shares in the company, valued at approximately $5,789,121.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Michael G. Rippey sold 78,714 shares of SunCoke Energy stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $11.06, for a total transaction of $870,576.84. Following the completion of the sale, the chief executive officer now owns 342,359 shares in the company, valued at approximately $3,786,490.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael G. Rippey sold 122,533 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $11.11, for a total transaction of $1,361,341.63. Following the completion of the transaction, the chief executive officer now owns 521,073 shares in the company, valued at $5,789,121.03. The disclosure for this sale can be found here. Insiders have sold a total of 251,572 shares of company stock worth $2,781,834 over the last three months. 1.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SunCoke Energy

A number of institutional investors have recently modified their holdings of the company. SummerHaven Investment Management LLC boosted its position in SunCoke Energy by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 90,161 shares of the energy company’s stock worth $968,000 after acquiring an additional 1,106 shares during the last quarter. Swiss National Bank boosted its holdings in shares of SunCoke Energy by 0.9% during the third quarter. Swiss National Bank now owns 184,050 shares of the energy company’s stock worth $1,868,000 after purchasing an additional 1,700 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of SunCoke Energy by 13.1% in the fourth quarter. Mackenzie Financial Corp now owns 16,643 shares of the energy company’s stock valued at $179,000 after purchasing an additional 1,932 shares during the period. Paulson Wealth Management Inc. increased its stake in SunCoke Energy by 17.8% in the third quarter. Paulson Wealth Management Inc. now owns 14,387 shares of the energy company’s stock valued at $146,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in SunCoke Energy in the third quarter valued at $30,000. Institutional investors and hedge funds own 90.45% of the company’s stock.

SunCoke Energy Company Profile

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.