BlackRock Inc. Invests $91.40 Million in Peabody Energy Corporation (BTU)
BlackRock Inc. acquired a new stake in shares of Peabody Energy Corporation (NYSE:BTU) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,738,058 shares of the coal producer’s stock, valued at approximately $91,395,000. BlackRock Inc. owned about 3.86% of Peabody Energy Corporation at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BTU. FNY Partners Fund LP bought a new position in shares of Peabody Energy Corporation during the 2nd quarter valued at about $146,000. BNP Paribas Arbitrage SA bought a new position in shares of Peabody Energy Corporation during the 2nd quarter valued at about $162,000. Pacific Heights Asset Management LLC bought a new position in shares of Peabody Energy Corporation during the 2nd quarter valued at about $295,000. Martingale Asset Management L P bought a new position in shares of Peabody Energy Corporation during the 2nd quarter valued at about $301,000. Finally, Legal & General Group Plc bought a new position in shares of Peabody Energy Corporation during the 2nd quarter valued at about $310,000. Hedge funds and other institutional investors own 97.98% of the company’s stock.
Peabody Energy Corporation (NYSE:BTU) opened at 29.96 on Friday. Peabody Energy Corporation has a 52-week low of $22.58 and a 52-week high of $32.50. The company’s market capitalization is $3.00 billion. The company’s 50-day moving average price is $29.48 and its 200 day moving average price is $26.79.
Peabody Energy Corporation (NYSE:BTU) last issued its quarterly earnings data on Tuesday, August 1st. The coal producer reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($1.07). The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue was up 21.0% compared to the same quarter last year. On average, equities analysts expect that Peabody Energy Corporation will post $6.28 EPS for the current fiscal year.
In other Peabody Energy Corporation news, major shareholder Discovery Capital Management, sold 12,800,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $27.10, for a total transaction of $346,880,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.27% of the company’s stock.
BTU has been the topic of several recent research reports. FBR & Co increased their price objective on Peabody Energy Corporation from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Peabody Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Stifel Nicolaus set a $32.00 price objective on Peabody Energy Corporation and gave the company a “hold” rating in a research report on Wednesday, August 2nd. MKM Partners reiterated a “buy” rating and set a $38.00 price objective (up from $32.00) on shares of Peabody Energy Corporation in a research report on Thursday, August 24th. Finally, Macquarie initiated coverage on Peabody Energy Corporation in a research report on Thursday, September 7th. They set a “neutral” rating and a $30.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $35.14.
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About Peabody Energy Corporation
Peabody Energy Corporation is a coal company. The Company’s segments include Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Australian Metallurgical Mining, Australian Thermal Mining, Trading and Brokerage, and Corporate and Other. Its Powder River Basin Mining operations consist of its mines in Wyoming.
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