Empire Life Investments Inc. Buys 98,020 Shares of Peabody Energy Corporation (NYSE:BTU)

Key Points

• Empire Life Investments Inc. increased its stake in Peabody Energy by 16.9%, now holding 679,655 shares valued at approximately $9.21 million.
• Peabody Energy's latest earnings report revealed a loss of ($0.06) EPS, missing analyst estimates and showing a 14.6% decline in revenue year-over-year.
• The company has declared a quarterly dividend of $0.075, reflecting an annualized yield of 1.9%.

Empire Life Investments Inc. raised its position in Peabody Energy Corporation (NYSE:BTU - Free Report) by 16.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 679,655 shares of the coal producer's stock after purchasing an additional 98,020 shares during the quarter. Empire Life Investments Inc. owned 0.56% of Peabody Energy worth $9,209,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Peabody Energy during the fourth quarter valued at approximately $337,000. Franklin Resources Inc. grew its position in shares of Peabody Energy by 6.8% in the fourth quarter. Franklin Resources Inc. now owns 187,353 shares of the coal producer's stock valued at $3,923,000 after purchasing an additional 11,929 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Peabody Energy in the fourth quarter valued at about $314,000. Bank of Montreal Can grew its position in shares of Peabody Energy by 44.8% in the fourth quarter. Bank of Montreal Can now owns 89,928 shares of the coal producer's stock valued at $1,883,000 after purchasing an additional 27,820 shares during the period. Finally, Invesco Ltd. grew its position in shares of Peabody Energy by 26.5% in the fourth quarter. Invesco Ltd. now owns 788,426 shares of the coal producer's stock valued at $16,510,000 after purchasing an additional 164,987 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Peabody Energy Stock Down 4.1%

Shares of BTU traded down $0.70 during midday trading on Wednesday, hitting $16.51. The company had a trading volume of 4,046,768 shares, compared to its average volume of 5,913,256. The company's 50 day moving average price is $14.53 and its 200 day moving average price is $14.42. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 16.03 and a beta of 0.53. Peabody Energy Corporation has a 52 week low of $9.61 and a 52 week high of $29.94. The company has a quick ratio of 1.64, a current ratio of 2.21 and a debt-to-equity ratio of 0.09.

Peabody Energy (NYSE:BTU - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The coal producer reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). The firm had revenue of $890.10 million during the quarter, compared to analyst estimates of $944.27 million. Peabody Energy had a return on equity of 4.41% and a net margin of 3.43%. The firm's revenue was down 14.6% on a year-over-year basis. During the same period last year, the business earned $1.42 EPS. On average, equities research analysts predict that Peabody Energy Corporation will post 2.61 EPS for the current year.

Peabody Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 14th. Peabody Energy's dividend payout ratio is 29.13%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group initiated coverage on shares of Peabody Energy in a research report on Tuesday, July 15th. They set a "neutral" rating and a $14.00 price target on the stock. Benchmark decreased their price target on shares of Peabody Energy from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen cut shares of Peabody Energy from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, B. Riley cut their target price on shares of Peabody Energy from $27.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.60.

About Peabody Energy

Peabody Energy Corporation engages in coal mining business in the United States, Japan, Taiwan, Australia, India, Brazil, Belgium, Chile, France, Indonesia, China, Vietnam, South Korea, Germany, and internationally. The company operates through Seaborne Thermal, Seaborne Metallurgical, Powder River Basin, Other U.S.