Bank of New York Mellon Corp Makes New $22.39 Million Investment in Peabody Energy Corporation $BTU

Key Points

• Bank of New York Mellon purchased 968,534 Peabody Energy shares worth approximately $22.39 million, acquiring about 0.80% of the company. Institutional investors collectively own 87.44% of BTU.
• Peabody Energy reported a quarterly loss of $0.74 per share, missing estimates by $0.36, although revenue increased 12.7% year over year to approximately $1 billion.
• The company declared a quarterly dividend of $0.075 per share, or $0.30 annualized, representing a 1.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $33.88.

Bank of New York Mellon Corp bought a new stake in Peabody Energy Corporation (NYSE:BTU - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 968,534 shares of the coal producer's stock, valued at approximately $22,393,000. Bank of New York Mellon Corp owned approximately 0.80% of Peabody Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in BTU. Maryland State Retirement & Pension System grew its position in shares of Peabody Energy by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 17,838 shares of the coal producer's stock valued at $530,000 after purchasing an additional 357 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Peabody Energy by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 27,849 shares of the coal producer's stock worth $827,000 after buying an additional 500 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Peabody Energy by 5.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,078 shares of the coal producer's stock worth $329,000 after buying an additional 588 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Peabody Energy by 24.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,103 shares of the coal producer's stock worth $93,000 after buying an additional 616 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in Peabody Energy by 2.8% in the fourth quarter. Corient Private Wealth LLC now owns 24,328 shares of the coal producer's stock valued at $723,000 after acquiring an additional 668 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Peabody Energy Stock Performance

BTU stock opened at $28.91 on Monday. 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 stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -19.27 and a beta of 0.34. Peabody Energy Corporation has a 1 year low of $16.46 and a 1 year high of $41.14. The stock's fifty day moving average is $24.02 and its two-hundred day moving average is $27.93.

Peabody Energy (NYSE:BTU - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The coal producer reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.36). The firm had revenue of $1 billion for 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%.The firm's revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.23) EPS. On average, research analysts predict that Peabody Energy Corporation will post 0.33 EPS for the current year.

Peabody Energy Announces Dividend

The firm also recently disclosed 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. This represents a $0.30 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 12th. Peabody Energy's dividend payout ratio is -20.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BTU shares. UBS Group dropped their price objective on shares of Peabody Energy from $27.00 to $26.50 and set a "neutral" rating for the company in a research report on Tuesday, August 4th. Weiss Ratings cut Peabody Energy from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, June 23rd. Benchmark reduced their target price on Peabody Energy from $40.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. B. Riley Financial dropped their price target 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. Finally, Zacks Research downgraded shares of Peabody Energy from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Peabody Energy presently has an average rating of "Hold" and an average target price of $33.88.

Peabody Energy Profile

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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