Newbridge Financial Services Group Inc. Cuts Stake in Peabody Energy Co. (NYSE:BTU)

Newbridge Financial Services Group Inc. cut its holdings in Peabody Energy Co. (NYSE:BTU) by 18.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,380 shares of the coal producer’s stock after selling 1,900 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Peabody Energy were worth $185,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Peabody Energy in the 2nd quarter valued at about $768,000. Algert Global LLC purchased a new position in Peabody Energy in the 2nd quarter worth approximately $272,000. Scientech Research LLC bought a new stake in Peabody Energy in the second quarter valued at approximately $229,000. Mackenzie Financial Corp boosted its stake in shares of Peabody Energy by 7.6% during the second quarter. Mackenzie Financial Corp now owns 10,023 shares of the coal producer’s stock valued at $222,000 after purchasing an additional 709 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Peabody Energy by 6.2% in the second quarter. The Manufacturers Life Insurance Company now owns 74,829 shares of the coal producer’s stock worth $1,655,000 after purchasing an additional 4,394 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Peabody Energy Price Performance

Shares of Peabody Energy stock opened at $25.93 on Thursday. The business has a 50 day moving average of $22.82 and a 200 day moving average of $23.07. Peabody Energy Co. has a 52 week low of $20.21 and a 52 week high of $27.24. The company has a market cap of $3.30 billion, a PE ratio of 7.22 and a beta of 0.95. The company has a quick ratio of 1.92, a current ratio of 2.49 and a debt-to-equity ratio of 0.09.

Peabody Energy (NYSE:BTU) last issued its quarterly earnings data on Thursday, August 1st. The coal producer reported $1.43 EPS for the quarter, topping the consensus estimate of $0.53 by $0.90. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. Peabody Energy had a net margin of 12.69% and a return on equity of 15.35%. As a group, equities research analysts forecast that Peabody Energy Co. will post 3.11 earnings per share for the current year.

Peabody Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.30 annualized dividend and a yield of 1.16%. Peabody Energy’s dividend payout ratio (DPR) is presently 8.36%.

Analyst Ratings Changes

Separately, B. Riley increased their price target on shares of Peabody Energy from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th.

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.