SummerHaven Investment Management LLC Acquires New Stake in Peabody Energy Corporation $BTU

SummerHaven Investment Management LLC acquired a new position in Peabody Energy Corporation (NYSE:BTU) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,925 shares of the coal producer’s stock, valued at approximately $874,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Peabody Energy by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,233,585 shares of the coal producer’s stock worth $205,429,000 after purchasing an additional 54,072 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Peabody Energy by 331.2% during the first quarter. Assenagon Asset Management S.A. now owns 1,211,411 shares of the coal producer’s stock valued at $39,916,000 after buying an additional 930,451 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Peabody Energy by 387.1% during the second quarter. Van ECK Associates Corp now owns 1,556,305 shares of the coal producer’s stock valued at $35,982,000 after buying an additional 1,236,770 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of 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 buying an additional 192,153 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Peabody Energy in the second quarter worth about $22,393,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Peabody Energy Price Performance

BTU opened at $23.84 on Friday. The company’s 50-day simple moving average is $26.43 and its two-hundred day simple moving average is $25.92. 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 $2.90 billion, a P/E ratio of -15.90 and a beta of 0.33. Peabody Energy Corporation has a 52-week low of $20.06 and a 52-week high of $41.14.

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

Peabody Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 12th were issued a dividend of $0.0750 per share. The ex-dividend date of this dividend 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 currently -20.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group lowered their target price 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. Benchmark reduced their price target on Peabody Energy from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. B. Riley Financial decreased their price target on Peabody Energy from $30.00 to $29.00 and set a “neutral” rating on the stock 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 research report on Friday, October 2nd. Finally, Zacks Research raised Peabody Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Peabody Energy has an average rating of “Hold” and an average target price of $33.88.

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.