Empire Life Investments Inc. has decreased its stake in Peabody Energy Co. by 19.1% during the third quarter, according to recent disclosure documents filed with the Securities and Exchange Commission. The company now owns 546,253 shares of Peabody Energy, representing approximately 0.43% of the total shares, after selling 128,650 shares during the reporting period. The value of the stake is estimated to be around $14,498,000.
Other institutional investors have also made adjustments to their holdings in Peabody Energy. Harbor Capital Advisors Inc. purchased a new position in the company during the third quarter, while Nisa Investment Advisors LLC and Graham Capital Wealth Management LLC increased their respective holdings. The State of Alaska Department of Revenue also raised its stake in Peabody Energy. Hedge funds and other institutional investors now possess approximately 87.44% of the company’s stock.
Peabody Energy’s shares are traded on the NYSE under the ticker symbol “BTU.” The stock experienced a slight increase of 0.8%, reaching $26.48 per share during mid-day trading on Friday. With a market capitalization of $3.33 billion, the company has a debt-to-equity ratio of 0.09, a current ratio of 2.49, and a quick ratio of 1.92. The stock’s 50-day moving average is $24.25, while its two-hundred day moving average is $23.33.
As for the company’s latest financial results, Peabody Energy reported earnings per share of $0.74 for the most recent quarter, surpassing analysts’ expectations by $0.16. The coal producer recorded revenue of $1.09 billion during the same period, representing a slight increase of 0.8% compared to the previous year. Analysts forecast that Peabody Energy will post earnings of $2.98 per share for the current fiscal year.
Additionally, Peabody Energy recently announced a quarterly dividend, with shareholders set to receive $0.075 per share on Wednesday, December 4th. The ex-dividend date is Thursday, November 14th, and the dividend payout ratio currently stands at 7.77%.
Despite these recent developments, it’s important to note that investment analysts have mixed opinions on Peabody Energy’s stock. Benchmark raised their target price to $30.00 with a “buy” rating, while BMO Capital Markets increased their price objective to $26.00 with a “market perform” rating. On the other hand, B. Riley boosted their price target to $34.00 and gave the company a “buy” rating.
Investors and market observers will be closely monitoring Peabody Energy as it continues to navigate the complex dynamics of the coal industry and strive for sustainable growth in the coming months.
Frequently Asked Questions (FAQ) based on the main topics and information presented in the article:
1. How much has Empire Life Investments decreased its stake in Peabody Energy during the third quarter?
– Empire Life Investments has decreased its stake in Peabody Energy by 19.1% during the third quarter.
2. How many shares of Peabody Energy does Empire Life Investments now own?
– Empire Life Investments now owns 546,253 shares of Peabody Energy.
3. What percentage of the total shares does Empire Life Investments’ stake represent?
– Empire Life Investments’ stake represents approximately 0.43% of the total shares.
4. How much is the estimated value of Empire Life Investments’ stake in Peabody Energy?
– The estimated value of Empire Life Investments’ stake in Peabody Energy is around $14,498,000.
5. Which other institutional investors have made adjustments to their holdings in Peabody Energy?
– Harbor Capital Advisors Inc., Nisa Investment Advisors LLC, Graham Capital Wealth Management LLC, and the State of Alaska Department of Revenue have made adjustments to their holdings in Peabody Energy.
6. What percentage of the company’s stock do hedge funds and other institutional investors now possess?
– Hedge funds and other institutional investors now possess approximately 87.44% of the company’s stock.
7. On which stock exchange are Peabody Energy’s shares traded?
– Peabody Energy’s shares are traded on the NYSE (New York Stock Exchange).
8. What is the ticker symbol for Peabody Energy on the NYSE?
– The ticker symbol for Peabody Energy on the NYSE is “BTU.”
9. What was the stock price of Peabody Energy during mid-day trading on Friday?
– The stock price of Peabody Energy was $26.48 per share during mid-day trading on Friday.
10. What is the market capitalization of Peabody Energy?
– The market capitalization of Peabody Energy is $3.33 billion.
11. What is Peabody Energy’s debt-to-equity ratio?
– Peabody Energy’s debt-to-equity ratio is 0.09.
12. What is Peabody Energy’s current ratio?
– Peabody Energy’s current ratio is 2.49.
13. What is Peabody Energy’s quick ratio?
– Peabody Energy’s quick ratio is 1.92.
14. What were Peabody Energy’s earnings per share for the most recent quarter?
– Peabody Energy reported earnings per share of $0.74 for the most recent quarter.
15. How does Peabody Energy’s reported earnings per share compare to analysts’ expectations?
– Peabody Energy’s reported earnings per share surpassed analysts’ expectations by $0.16.
16. What was Peabody Energy’s revenue for the most recent quarter?
– Peabody Energy recorded revenue of $1.09 billion during the most recent quarter.
17. How does Peabody Energy’s revenue for the most recent quarter compare to the previous year?
– Peabody Energy’s revenue for the most recent quarter represents a slight increase of 0.8% compared to the previous year.
18. What is the dividend payout ratio for Peabody Energy’s recent quarterly dividend?
– The dividend payout ratio for Peabody Energy’s recent quarterly dividend is 7.77%.
19. What are some target price and rating changes made by investment analysts regarding Peabody Energy’s stock?
– Benchmark raised their target price to $30.00 with a “buy” rating, BMO Capital Markets increased their price objective to $26.00 with a “market perform” rating, and B. Riley boosted their price target to $34.00 and gave the company a “buy” rating.
20. What is the outlook for Peabody Energy as it navigates the coal industry and strives for growth?
– Investors and market observers will be closely monitoring Peabody Energy as it continues to navigate the complex dynamics of the coal industry and strive for sustainable growth in the coming months.
Key Definitions/Jargon:
– Stake: The number of shares owned in a particular company by an investor or institutional investor.
– Institutional Investors: Organizations like investment banks, pension funds, and insurance companies that invest large sums of money on behalf of their clients.
– Ticker Symbol: A unique series of letters assigned to a particular stock for trading purposes on a stock exchange.
– Market Capitalization: The total market value of a publicly traded company’s outstanding shares.
– Debt-to-Equity Ratio: A financial ratio indicating the proportion of debt used to finance a company’s assets relative to the equity of the shareholders.
– Current Ratio: A liquidity ratio that measures a company’s ability to pay short-term obligations using its current assets.
– Quick Ratio: A liquidity ratio that measures a company’s ability to cover its short-term liabilities with its most liquid assets.
– Earnings per Share (EPS): The portion of a company’s profit allocated to each outstanding share of common stock.
– Revenue: The income generated by a business through its regular activities, such as sales of goods or services.
– Dividend Payout Ratio: The percentage of a company’s earnings paid out as dividends to shareholders.
Suggested Related Links:
– Peabody Energy Official Website
– U.S. Securities and Exchange Commission (SEC)