Foresight Energy LP (NYSE:FELP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
According to Zacks, “Foresight Energy Partners LP is a producer and marketer of thermal coal. It operates four underground mining complexes, all in the Illinois Basin region of the United States. The Company’s mining complexes consist of: Williamson Energy, LLC, Sugar Camp Energy, LLC, Hillsboro Energy, LLC and Macoupin Energy, LLC. It markets and sells its coal to a diverse customer base including electric utility and industrial companies in the eastern United States, as well as the seaborne thermal coal market. Foresight Energy Partners LP is based in St. Louis, Missouri. “
FELP has been the subject of a number of other reports. FBR & Co set a $5.00 price objective on Foresight Energy and gave the stock a “hold” rating in a research report on Tuesday, August 15th. ValuEngine lowered Foresight Energy from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. BidaskClub upgraded Foresight Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, September 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $5.50 price objective on shares of Foresight Energy in a research report on Sunday, October 29th. Finally, B. Riley reiterated a “neutral” rating on shares of Foresight Energy in a research report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.25.
Foresight Energy (NYSE FELP) traded up $0.25 during trading on Friday, hitting $4.25. The company had a trading volume of 207,724 shares, compared to its average volume of 42,775. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.70 and a quick ratio of 0.41. Foresight Energy has a fifty-two week low of $3.53 and a fifty-two week high of $8.33.
Foresight Energy (NYSE:FELP) last released its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). The business had revenue of $232.40 million during the quarter, compared to the consensus estimate of $233.85 million. Foresight Energy had a negative net margin of 19.93% and a negative return on equity of 9.94%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. sell-side analysts predict that Foresight Energy will post -0.99 EPS for the current fiscal year.
A hedge fund recently raised its stake in Foresight Energy stock. BNP Paribas Arbitrage SA raised its stake in shares of Foresight Energy LP (NYSE:FELP) by 5,739,700.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,398 shares of the energy company’s stock after buying an additional 57,397 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.07% of Foresight Energy worth $243,000 at the end of the most recent reporting period. Institutional investors own 11.73% of the company’s stock.
About Foresight Energy
Foresight Energy LP is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. As of December 31, 2016, the Company controlled 2.1 billion tons of coal in the state of Illinois. Its reserves consist principally of three contiguous blocks of uniform, thick, high heat content (high Btu) thermal coal, which are used for longwall operations.
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