Fintel reports that BlackRock Inc. has filed a 13G/A form with the SEC disclosing ownership of 15,345,901 shares of SunCoke Energy Inc (SXC). This represents 18.4% of the company.
In their previous filing dated January 27, 2022 they reported 13,774,692 shares and 16.60% of the company, an increase in shares of 11.41% and an increase in total ownership of 1.80% (calculated as current - previous percent ownership).
SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke used in the blast furnace production of steel, under long-term, take-or-pay contracts that pass through commodity and certain operating costs to customers. We utilize an innovative heat-recovery technology that captures excess heat for steam or electrical power generation. Our cokemaking facilities are located in Illinois, Indiana, Ohio, Virginia and Brazil. We have more than 55 years of cokemaking experience serving the integrated steel industry. In addition, we provide export and domestic material handling services to coke, coal, steel, power and other bulk and liquids customers. Our logistics terminals have the collective capacity to mix and transload more than 40 million tons of material each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports.
What are large shareholders doing?
Boundary Creek Advisors LP holds 3,091,148 shares representing 3.71% ownership of the company. In it's prior filing, the firm reported owning 2,269,040 shares, representing an increase of 26.60%. The firm decreased its portfolio allocation in SXC by 48.43% over the last quarter.
Renaissance Technologies Llc holds 2,813,468 shares representing 3.37% ownership of the company. In it's prior filing, the firm reported owning 3,024,868 shares, representing a decrease of 7.51%. The firm decreased its portfolio allocation in SXC by 5.17% over the last quarter.
Goldman Sachs Group Inc holds 2,110,693 shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 2,120,094 shares, representing a decrease of 0.45%. The firm decreased its portfolio allocation in SXC by 13.10% over the last quarter.
Ninepoint Partners LP holds 2,000,000 shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 0 shares, representing an increase of 100.00%.
Invesco Ltd. holds 1,795,365 shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 1,957,253 shares, representing a decrease of 9.02%. The firm decreased its portfolio allocation in SXC by 16.87% over the last quarter.
Fund Sentiment
There are 483 funds or institutions reporting positions in SunCoke Energy Inc. This is a decrease of 4 owner(s) or 0.82%.
Average portfolio weight of all funds dedicated to SunCoke Energy Inc is 0.0884%, an increase of 4.7199%. Total shares owned by institutions increased in the last three months by 0.93% to 86,640,287 shares.
Analyst Sentiment
As of January 14, 2023, the average one-year price target for SunCoke Energy is $10.71. The forecasts range from a low of $10.10 to a high of $11.55. The average price target represents an increase of 15.53% from its latest reported closing price of $9.27.
The projected annual revenue for SunCoke Energy is $1,524MM, a decrease of -16.44%. The projected annual EPS is $0.72, a decrease of -40.58%.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
