Peabody Energy Co. (NYSE:BTU) Stake Trimmed by Panagora Asset Management Inc.
Panagora Asset Management Inc. lessened its stake in shares of Peabody Energy Co. (NYSE:BTU) by 42.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,345 shares of the coal producer’s stock after selling 45,192 shares during the period. Panagora Asset Management Inc.’s holdings in Peabody Energy were worth $1,478,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Alphasimplex Group LLC raised its holdings in shares of Peabody Energy by 3.8% during the first quarter. Alphasimplex Group LLC now owns 36,860 shares of the coal producer’s stock valued at $1,044,000 after acquiring an additional 1,347 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Peabody Energy by 4.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 48,631 shares of the coal producer’s stock worth $1,378,000 after buying an additional 1,922 shares during the period. First Midwest Bank Trust Division boosted its position in shares of Peabody Energy by 6.7% in the second quarter. First Midwest Bank Trust Division now owns 31,703 shares of the coal producer’s stock worth $764,000 after buying an additional 2,000 shares during the period. Strs Ohio grew its holdings in shares of Peabody Energy by 5.1% during the second quarter. Strs Ohio now owns 41,600 shares of the coal producer’s stock valued at $1,002,000 after buying an additional 2,000 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Peabody Energy by 2.0% during the first quarter. Rhumbline Advisers now owns 115,694 shares of the coal producer’s stock valued at $3,278,000 after buying an additional 2,251 shares in the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.
In other news, major shareholder International L.P. Elliott acquired 9,801 shares of Peabody Energy stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $17.99 per share, for a total transaction of $176,319.99. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 859,698 shares of company stock valued at $15,724,796 over the last 90 days. 0.75% of the stock is owned by corporate insiders.
Peabody Energy (NYSE:BTU) last announced its earnings results on Wednesday, July 31st. The coal producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Peabody Energy had a return on equity of 10.64% and a net margin of 9.47%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s revenue was down 12.2% on a year-over-year basis. Analysts forecast that Peabody Energy Co. will post 1.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be given a $0.145 dividend. This is a positive change from Peabody Energy’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, August 20th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.05%. Peabody Energy’s dividend payout ratio (DPR) is currently 18.41%.
Several equities research analysts recently issued reports on the company. TheStreet downgraded Peabody Energy from a “c-” rating to a “d+” rating in a research note on Thursday, August 15th. Zacks Investment Research raised Peabody Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, July 22nd. Deutsche Bank dropped their target price on Peabody Energy from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Jefferies Financial Group lowered shares of Peabody Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $27.00 to $18.00 in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut shares of Peabody Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $30.00 in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.20.
Peabody Energy Profile
Peabody Energy Corp. engages in the business of coal mining. It operates through the following segments: Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Seaborne Metallurgical Mining, Seaborne Thermal Mining, and Corporate and Other. The Powder River Basin Mining segment consists of its mines in Wyoming.
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