Peabody Energy Co. (NYSE:BTU) to Issue Dividend Increase – $0.15 Per Share

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Peabody Energy Co. (NYSE:BTU) declared a quarterly dividend on Wednesday, August 7th, RTT News reports. Investors of record on Wednesday, August 21st will be paid a dividend of 0.145 per share by the coal producer on Wednesday, September 11th. This represents a $0.58 annualized dividend and a yield of 3.02%. The ex-dividend date is Tuesday, August 20th. This is a boost from Peabody Energy’s previous quarterly dividend of $0.14.

Peabody Energy has raised its dividend payment by an average of 86.3% per year over the last three years. Peabody Energy has a payout ratio of 13.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Peabody Energy to earn ($0.40) per share next year, which means the company may not be able to cover its $0.58 annual dividend with an expected future payout ratio of -145.0%.

Shares of NYSE BTU opened at $19.18 on Monday. The firm has a market cap of $2.02 billion, a PE ratio of 6.09 and a beta of 0.83. Peabody Energy has a 12-month low of $17.20 and a 12-month high of $44.71. The company’s fifty day simple moving average is $21.57 and its 200 day simple moving average is $26.50. The company has a quick ratio of 1.49, a current ratio of 1.81 and a debt-to-equity ratio of 0.43.

Peabody Energy (NYSE:BTU) last released its quarterly earnings data on Wednesday, July 31st. The coal producer reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.09. Peabody Energy had a net margin of 9.47% and a return on equity of 10.64%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The business’s revenue was down 12.2% on a year-over-year basis. On average, equities analysts predict that Peabody Energy will post 2.21 earnings per share for the current year.

In other news, EVP Charles F. Meintjes sold 35,779 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $23.68, for a total value of $847,246.72. Following the completion of the sale, the executive vice president now owns 123,398 shares in the company, valued at $2,922,064.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder International L.P. Elliott bought 634,698 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $18.34 per share, with a total value of $11,640,361.32. The disclosure for this purchase can be found here. In the last quarter, insiders bought 809,698 shares of company stock valued at $14,853,296. 0.75% of the stock is currently owned by corporate insiders.

Several research firms have weighed in on BTU. Jefferies Financial Group downgraded shares of Peabody Energy from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $27.00 to $18.00 in a report on Tuesday, August 6th. TheStreet downgraded shares of Peabody Energy from a “c-” rating to a “d+” rating in a report on Thursday. Zacks Investment Research upgraded shares of Peabody Energy from a “strong sell” rating to a “hold” rating in a report on Monday, July 22nd. Finally, Deutsche Bank lowered their price objective on shares of Peabody Energy from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.89.

Peabody Energy Company Profile

Peabody Energy Corp. engages in the business of coal mining. It operates through the following segments: Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Seaborne Metallurgical Mining, Seaborne Thermal Mining, and Corporate and Other. The Powder River Basin Mining segment consists of its mines in Wyoming.

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Dividend History for Peabody Energy (NYSE:BTU)

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