Bank of America Corp DE Cuts Holdings in Peabody Energy Co. (BTU)

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Bank of America Corp DE trimmed its position in shares of Peabody Energy Co. (NYSE:BTU) by 67.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,668 shares of the coal producer’s stock after selling 184,417 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of Peabody Energy worth $4,078,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Quadrant L P CA boosted its position in Peabody Energy by 51.3% during the 2nd quarter. First Quadrant L P CA now owns 3,910 shares of the coal producer’s stock valued at $178,000 after acquiring an additional 1,325 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Peabody Energy during the second quarter valued at approximately $210,000. Zeke Capital Advisors LLC purchased a new position in shares of Peabody Energy during the second quarter valued at approximately $211,000. Cambria Investment Management L.P. purchased a new position in shares of Peabody Energy during the second quarter valued at approximately $310,000. Finally, Signition LP purchased a new position in shares of Peabody Energy during the second quarter valued at approximately $328,000. 99.16% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider George John Schuller, Jr. sold 12,312 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $41.13, for a total value of $506,392.56. Following the completion of the transaction, the insider now directly owns 55,627 shares in the company, valued at approximately $2,287,938.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Charles F. Meintjes sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $42.10, for a total transaction of $1,473,500.00. Following the completion of the transaction, the executive vice president now owns 170,910 shares of the company’s stock, valued at $7,195,311. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

BTU has been the subject of several recent research reports. B. Riley lifted their target price on shares of Peabody Energy from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. ValuEngine lowered shares of Peabody Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research lowered shares of Peabody Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Seaport Global Securities lowered shares of Peabody Energy from a “buy” rating to a “neutral” rating in a report on Friday, September 28th. Finally, Clarkson Capital lowered shares of Peabody Energy from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a report on Friday, September 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $44.67.

BTU stock opened at $35.45 on Thursday. Peabody Energy Co. has a 52-week low of $30.49 and a 52-week high of $47.84. The company has a market cap of $4.26 billion, a PE ratio of 7.11 and a beta of 0.91. The company has a quick ratio of 2.01, a current ratio of 2.28 and a debt-to-equity ratio of 0.38.

Peabody Energy (NYSE:BTU) last announced its quarterly earnings data on Tuesday, October 30th. The coal producer reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.55). Peabody Energy had a return on equity of 24.59% and a net margin of 15.71%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the firm earned $1.47 earnings per share. Peabody Energy’s revenue was down 4.4% on a year-over-year basis. Sell-side analysts predict that Peabody Energy Co. will post 3.89 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, October 31st will be issued a $0.13 dividend. This is a positive change from Peabody Energy’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, October 30th.

Peabody Energy Profile

Peabody Energy Corporation engages in coal mining business. The company operates through six segments: Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Australian Metallurgical Mining, Australian Thermal Mining, and Trading and Brokerage. It is involved in mining, preparation, and sale of thermal coal primarily to electric utilities; and metallurgical coal that include hard coking coal, semi-hard coking coal, semi-soft coking coal, and low-volatile pulverized coal injection for industrial customers.

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Institutional Ownership by Quarter for Peabody Energy (NYSE:BTU)

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