Empowered Funds LLC purchased a new position in shares of Peabody Energy Corporation (NYSE:BTU – Free Report) during the second quarter, Holdings Channel.com reports. The fund purchased 531,549 shares of the coal producer’s stock, valued at approximately $12,289,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Peabody Energy during the second quarter valued at $435,691,000. Sourcerock Group LLC acquired a new stake in Peabody Energy during the 2nd quarter worth about $28,092,000. State Street Corp grew its stake in Peabody Energy by 19.3% during the 2nd quarter. State Street Corp now owns 9,208,031 shares of the coal producer’s stock valued at $123,572,000 after purchasing an additional 1,487,531 shares during the last quarter. Phoenix Financial Ltd. acquired a new position in shares of Peabody Energy in the fourth quarter valued at about $38,125,000. Finally, Vanguard Group Inc. increased its holdings in shares of Peabody Energy by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 15,135,096 shares of the coal producer’s stock valued at $449,512,000 after purchasing an additional 1,191,438 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BTU has been the subject of a number of research reports. Zacks Research downgraded Peabody Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Benchmark reduced their price target on shares of Peabody Energy from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. B. Riley Financial decreased their price objective on shares of Peabody Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Weiss Ratings downgraded shares of Peabody Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 23rd. Finally, UBS Group reduced their target price on shares of Peabody Energy from $27.00 to $26.50 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.88.
Peabody Energy Stock Performance
Shares of NYSE BTU opened at $28.91 on Friday. The company has a market capitalization of $3.52 billion, a PE ratio of -19.27 and a beta of 0.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.46 and a current ratio of 2.01. The company’s fifty day moving average price is $24.02 and its 200 day moving average price is $28.00. Peabody Energy Corporation has a 1 year low of $16.46 and a 1 year high of $41.14.
Peabody Energy (NYSE:BTU – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The coal producer reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.36). Peabody Energy had a negative return on equity of 5.22% and a negative net margin of 4.56%.The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company posted ($0.23) EPS. The company’s revenue was up 12.7% on a year-over-year basis. On average, research analysts predict that Peabody Energy Corporation will post 0.33 earnings per share for the current year.
Peabody Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 12th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.30 dividend on an annualized basis and a yield of 1.0%. Peabody Energy’s dividend payout ratio is presently -20.00%.
About Peabody Energy
Peabody Energy Corporation is one of the world’s largest private-sector coal companies, engaged primarily in the production and sale of metallurgical and thermal coal. The company’s operations span surface and underground mines, serving utilities, steel mills and other industrial customers that rely on coal as an essential component in power generation and steelmaking. Peabody’s product portfolio includes high-energy thermal coal for electricity generation and low-volatile metallurgical coal used in steel production, reflecting its diverse end-market reach.
Founded in 1883, Peabody Energy has grown from a regional mining concern into a global energy supplier.
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