SunCoke Energy, Inc. to Issue Quarterly Dividend of $0.12 (NYSE:SXC)

Key Points

• SunCoke Energy, Inc. has declared a quarterly dividend of $0.12 per share, which equates to an annual dividend of $0.48 and a yield of 5.78%, with the payment date set for September 2nd.
• Despite a 7.8% year-over-year decrease in revenue and earnings per share (EPS) of just $0.02, the company maintains a payout ratio of 70.6%, suggesting its dividend is well-covered by earnings.
• Institutional investors own 90.45% of SunCoke Energy's stock, with significant stake increases from firms like AQR Capital Management and MIRAE Asset Global ETFs Holdings.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Shareholders of record on Friday, August 15th will be paid a dividend of 0.12 per share by the energy company on Tuesday, September 2nd. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, August 15th.

SunCoke Energy has a dividend payout ratio of 70.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect SunCoke Energy to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 68.6%.

SunCoke Energy Price Performance

SunCoke Energy stock traded down $0.12 on Friday, reaching $7.27. The company's stock had a trading volume of 234,901 shares, compared to its average volume of 940,127. The business's fifty day moving average price is $8.34 and its 200 day moving average price is $8.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 2.61. The company has a market cap of $615.32 million, a price-to-earnings ratio of 8.46 and a beta of 1.11. SunCoke Energy has a twelve month low of $7.18 and a twelve month high of $12.82.

SunCoke Energy (NYSE:SXC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.13). SunCoke Energy had a return on equity of 10.43% and a net margin of 3.99%. The company had revenue of $434.10 million for the quarter, compared to analyst estimates of $348.05 million. During the same quarter last year, the company earned $0.25 EPS. The firm's quarterly revenue was down 7.8% on a year-over-year basis. Equities analysts expect that SunCoke Energy will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SunCoke Energy

A number of large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of SunCoke Energy in the first quarter valued at approximately $106,000. Allspring Global Investments Holdings LLC increased its stake in shares of SunCoke Energy by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 34,728 shares of the energy company's stock valued at $319,000 after buying an additional 12,176 shares during the period. Principal Financial Group Inc. increased its stake in shares of SunCoke Energy by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 420,006 shares of the energy company's stock valued at $3,864,000 after buying an additional 12,160 shares during the period. Squarepoint Ops LLC raised its position in shares of SunCoke Energy by 329.6% during the fourth quarter. Squarepoint Ops LLC now owns 61,229 shares of the energy company's stock worth $655,000 after acquiring an additional 46,975 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of SunCoke Energy by 15.5% during the fourth quarter. Northern Trust Corp now owns 933,091 shares of the energy company's stock valued at $9,984,000 after acquiring an additional 125,414 shares during the period. 90.45% of the stock is currently owned by institutional investors and hedge funds.

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.