Man Group plc trimmed its holdings in shares of Peabody Energy Co. (NYSE:BTU) by 36.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 842,536 shares of the coal producer’s stock after selling 482,676 shares during the period. Man Group plc owned about 0.79% of Peabody Energy worth $12,402,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new position in Peabody Energy during the second quarter valued at about $30,293,000. Renaissance Technologies LLC boosted its stake in Peabody Energy by 19.8% in the second quarter. Renaissance Technologies LLC now owns 2,485,145 shares of the coal producer’s stock valued at $59,892,000 after acquiring an additional 411,200 shares during the last quarter. UBS Group AG grew its position in shares of Peabody Energy by 1,312.6% during the 2nd quarter. UBS Group AG now owns 371,971 shares of the coal producer’s stock valued at $8,965,000 after acquiring an additional 345,638 shares during the period. Bank of America Corp DE grew its position in shares of Peabody Energy by 1,037.2% during the 2nd quarter. Bank of America Corp DE now owns 171,574 shares of the coal producer’s stock valued at $4,134,000 after acquiring an additional 189,881 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in shares of Peabody Energy during the 2nd quarter valued at approximately $3,987,000. Institutional investors own 91.49% of the company’s stock.
BTU has been the topic of a number of research reports. BMO Capital Markets lowered their price target on shares of Peabody Energy to $14.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. ValuEngine raised Peabody Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded Peabody Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $30.00 in a research report on Monday, August 19th. B. Riley lowered Peabody Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $12.00 in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group cut Peabody Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from $27.00 to $18.00 in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Peabody Energy has an average rating of “Hold” and a consensus target price of $27.00.
Peabody Energy (NYSE:BTU) last announced its quarterly earnings results on Tuesday, October 29th. The coal producer reported ($0.81) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.64). Peabody Energy had a net margin of 6.92% and a return on equity of 6.72%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s quarterly revenue was down 21.7% compared to the same quarter last year. Equities analysts expect that Peabody Energy Co. will post 0.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, October 30th were issued a dividend of $0.145 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.58 dividend on an annualized basis and a yield of 6.37%. Peabody Energy’s payout ratio is 18.41%.
Peabody Energy Company 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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