Corebridge Financial Inc. Lowers Stock Holdings in Peabody Energy Corporation $BTU

Corebridge Financial Inc. lowered its holdings in Peabody Energy Corporation (NYSE:BTU) by 5.1% in the first quarter, Holdings Channel.com reports. The firm owned 63,779 shares of the coal producer’s stock after selling 3,397 shares during the period. Corebridge Financial Inc.’s holdings in Peabody Energy were worth $864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BTU. Allworth Financial LP grew its position in shares of Peabody Energy by 315.0% in the first quarter. Allworth Financial LP now owns 2,125 shares of the coal producer’s stock valued at $27,000 after purchasing an additional 1,613 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Peabody Energy by 70.7% in the first quarter. Harbor Capital Advisors Inc. now owns 3,092 shares of the coal producer’s stock valued at $42,000 after purchasing an additional 1,281 shares during the period. Byrne Asset Management LLC grew its position in shares of Peabody Energy by 84.9% in the first quarter. Byrne Asset Management LLC now owns 3,245 shares of the coal producer’s stock valued at $44,000 after purchasing an additional 1,490 shares during the period. Garde Capital Inc. purchased a new stake in shares of Peabody Energy in the first quarter valued at $46,000. Finally, Parallel Advisors LLC grew its position in shares of Peabody Energy by 714.6% in the first quarter. Parallel Advisors LLC now owns 4,570 shares of the coal producer’s stock valued at $62,000 after purchasing an additional 4,009 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen downgraded Peabody Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. UBS Group boosted their price target on Peabody Energy from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.90.

Peabody Energy Price Performance

BTU stock opened at $19.10 on Friday. The stock has a 50-day moving average price of $16.24 and a two-hundred day moving average price of $14.36. Peabody Energy Corporation has a 12-month low of $9.61 and a 12-month high of $29.94. The company has a current ratio of 2.21, a quick ratio of 1.64 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.32 billion, a PE ratio of 18.55 and a beta of 0.64.

Peabody Energy (NYSE:BTU) last posted its quarterly earnings results on Thursday, July 31st. The coal producer reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Peabody Energy had a net margin of 3.43% and a return on equity of 4.41%. The firm had revenue of $890.10 million for the quarter, compared to analysts’ expectations of $944.27 million. During the same period last year, the firm posted $1.42 EPS. Peabody Energy’s revenue was down 14.6% on a year-over-year basis. As a group, research analysts predict that Peabody Energy Corporation will post 2.61 EPS for the current year.

Peabody Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, August 14th. Peabody Energy’s payout ratio is currently 29.13%.

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.