Peabody Energy (NYSE:BTU) Shares Gap Down to $23.57

Shares of Peabody Energy Co. (NYSE:BTU) gapped down before the market opened on Thursday . The stock had previously closed at $23.57, but opened at $21.89. Peabody Energy shares last traded at $22.56, with a volume of 928,104 shares trading hands.

Analysts Set New Price Targets

BTU has been the subject of a number of recent analyst reports. Benchmark reissued a “buy” rating and set a $28.00 target price on shares of Peabody Energy in a research note on Friday. B. Riley boosted their target price on shares of Peabody Energy from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th.

Peabody Energy Price Performance

The stock has a market capitalization of $2.94 billion, a PE ratio of 4.64 and a beta of 0.98. The company has a quick ratio of 1.70, a current ratio of 2.06 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $24.68 and its 200-day moving average price is $24.55.

Peabody Energy (NYSE:BTU) last issued its earnings results on Thursday, February 8th. The coal producer reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.08). Peabody Energy had a net margin of 15.36% and a return on equity of 21.45%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the firm posted $2.65 earnings per share. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. As a group, equities analysts forecast that Peabody Energy Co. will post 3.66 EPS for the current year.

Peabody Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 22nd were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, February 21st. Peabody Energy’s dividend payout ratio (DPR) is presently 6.02%.

Insider Buying and Selling

In related news, COO Darren Ronald Yeates sold 31,980 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.48, for a total value of $814,850.40. Following the completion of the sale, the chief operating officer now directly owns 78,307 shares of the company’s stock, valued at $1,995,262.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Peabody Energy news, COO Darren Ronald Yeates sold 31,980 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.48, for a total value of $814,850.40. Following the completion of the transaction, the chief operating officer now directly owns 78,307 shares in the company, valued at $1,995,262.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas J. Chirekos sold 14,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.50, for a total transaction of $357,000.00. Following the completion of the transaction, the director now owns 24,279 shares of the company’s stock, valued at $619,114.50. The disclosure for this sale can be found here. Insiders sold a total of 52,806 shares of company stock valued at $1,339,565 over the last three months. 0.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peabody Energy

A number of large investors have recently added to or reduced their stakes in BTU. Envestnet Asset Management Inc. bought a new position in Peabody Energy in the first quarter worth about $202,000. Raymond James & Associates bought a new position in Peabody Energy in the first quarter worth about $289,000. Raymond James Financial Services Advisors Inc. raised its holdings in Peabody Energy by 93.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,535 shares of the coal producer’s stock worth $724,000 after purchasing an additional 14,285 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Peabody Energy during the first quarter valued at about $1,206,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Peabody Energy by 54.4% during the first quarter. MetLife Investment Management LLC now owns 47,644 shares of the coal producer’s stock valued at $1,169,000 after acquiring an additional 16,787 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

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.