Wed Sep 25 07:56:54 UTC 2024: ## New Jersey Pension Fund Cuts Peabody Energy Stake Amid Mixed Investor Sentiment

**[City, State] –** The State of New Jersey Common Pension Fund D reduced its holdings in coal producer Peabody Energy Co. (NYSE: BTU) by 27.8% during the second quarter, according to a recent SEC filing. The fund now owns 80,688 shares of the company, valued at $1,785,000.

This move comes amidst mixed investor sentiment surrounding Peabody Energy. While some funds, including Vanguard Group and Boston Partners, increased their stakes in the company, others, like the New Jersey fund, have scaled back their holdings.

Notable activity includes:

* **Vanguard Group Inc.:** Increased its position by 21.5% in the first quarter, now holding 13,957,602 shares valued at $338,611,000.
* **Boston Partners:** Increased its stake by 9.2% in the first quarter, now owning 7,348,251 shares valued at $178,118,000.
* **Thomist Capital Management LP:** Significantly expanded its holdings by 483.0% in the first quarter, now owning 2,024,769 shares valued at $49,121,000.

However, the New Jersey Pension Fund’s move suggests some caution regarding Peabody Energy’s future.

Despite the mixed investor sentiment, B. Riley recently upgraded its target price for Peabody Energy from $32.00 to $34.00 and maintained a “buy” rating on the stock.

Peabody Energy reported strong earnings in the second quarter, exceeding analyst expectations. The company also recently declared a quarterly dividend of $0.075, representing an annualized dividend of $0.30 and a yield of 1.22%.

Peabody Energy operates globally, with coal mining activities in the United States, Australia, and various other countries. The company’s future prospects remain uncertain, influenced by factors such as global demand for coal, environmental regulations, and the transition to renewable energy sources.

Investors will be closely watching Peabody Energy’s performance in the coming quarters to assess the company’s long-term viability and its position in the evolving energy landscape.

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