SummerHaven Investment Management LLC Makes New $874,000 Investment in Peabody Energy Corporation $BTU

SummerHaven Investment Management LLC acquired a new position in Peabody Energy Corporation (NYSE:BTU) in the third quarter, Holdings Channel reports. The institutional investor acquired 32,925 shares of the coal producer’s stock, valued at approximately $874,000.

A number of other large investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of Peabody Energy by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,233,585 shares of the coal producer’s stock worth $205,429,000 after buying an additional 54,072 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Peabody Energy by 387.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,556,305 shares of the coal producer’s stock valued at $35,982,000 after acquiring an additional 1,236,770 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Peabody Energy by 331.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,211,411 shares of the coal producer’s stock valued at $39,916,000 after acquiring an additional 930,451 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Peabody Energy in the 2nd quarter valued at about $22,393,000. Finally, Empowered Funds LLC grew its position in Peabody Energy by 35.0% in the first quarter. Empowered Funds LLC now owns 740,760 shares of the coal producer’s stock worth $24,408,000 after acquiring an additional 192,153 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BTU has been the topic of several analyst reports. Zacks Research raised Peabody Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. UBS Group lowered their price objective on Peabody Energy from $27.00 to $26.50 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. B. Riley Financial lowered their price objective on 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 upgraded Peabody Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Finally, Benchmark dropped their target price on Peabody Energy from $40.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.88.

Peabody Energy Trading Down 0.7%

BTU stock opened at $23.84 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.01 and a debt-to-equity ratio of 0.10. Peabody Energy Corporation has a twelve month low of $20.06 and a twelve month high of $41.14. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -15.90 and a beta of 0.33. The firm’s fifty day simple moving average is $26.43 and its two-hundred day simple moving average is $25.92.

Peabody Energy (NYSE:BTU) last released its earnings results on Wednesday, July 29th. The coal producer reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.36). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.02 billion. Peabody Energy had a negative return on equity of 5.22% and a negative net margin of 4.56%. Peabody Energy’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.23) EPS. As a group, analysts anticipate that Peabody Energy Corporation will post 0.33 earnings per share for the current year.

Peabody Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 12th were paid a $0.0750 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.30 dividend on an annualized basis and a yield of 1.3%. Peabody Energy’s dividend payout ratio (DPR) is presently -20.00%.

About Peabody Energy

Peabody Energy Corporation is a global coal producer and energy company headquartered in St. Louis, Missouri. The company mines, processes and sells thermal coal used primarily for electricity generation and metallurgical coal used in steelmaking.

Peabody operates mining assets in the United States and Australia and serves customers in domestic and international markets. Its products are sold to electric utilities, steel producers, industrial customers and other commercial buyers, with sales delivered through both seaborne and domestic channels.

Founded in 1883, Peabody has developed from a regional coal business into one of the world’s largest private-sector coal companies.