Stifel Nicolaus Reiterates Hold Rating for Foresight Energy LP (FELP)
Foresight Energy LP (NYSE:FELP)‘s stock had its “hold” rating reaffirmed by analysts at Stifel Nicolaus in a report issued on Tuesday. They currently have a $6.50 price target on the energy company’s stock, down from their previous price target of $8.00. Stifel Nicolaus’ price objective indicates a potential upside of 18.40% from the stock’s current price.
FELP has been the subject of several other reports. Zacks Investment Research lowered Foresight Energy from a “buy” rating to a “hold” rating in a research report on Thursday, January 19th. FBR & Co reaffirmed a “hold” rating and set a $6.00 target price on shares of Foresight Energy in a research report on Friday, March 3rd.
Foresight Energy (NYSE:FELP) traded down 6.466% during mid-day trading on Tuesday, hitting $5.135. 4,255 shares of the stock were exchanged. The stock has a 50 day moving average price of $5.70 and a 200 day moving average price of $6.46. The company’s market capitalization is $672.99 million. Foresight Energy has a 1-year low of $1.42 and a 1-year high of $8.33.
Foresight Energy (NYSE:FELP) last released its quarterly earnings results on Thursday, May 11th. The energy company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.11. The company had revenue of $230.40 million during the quarter, compared to analysts’ expectations of $225.10 million. Foresight Energy had a negative net margin of 12.55% and a negative return on equity of 272.74%. The company’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. On average, equities analysts anticipate that Foresight Energy will post $0.11 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Foresight Energy by 65.2% in the fourth quarter. Renaissance Technologies LLC now owns 111,360 shares of the energy company’s stock valued at $720,000 after buying an additional 43,960 shares in the last quarter. Morgan Stanley increased its position in Foresight Energy by 77.0% in the first quarter. Morgan Stanley now owns 26,200 shares of the energy company’s stock valued at $164,000 after buying an additional 11,400 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its position in Foresight Energy by 131.9% in the third quarter. Acrospire Investment Management LLC now owns 32,234 shares of the energy company’s stock valued at $122,000 after buying an additional 18,334 shares during the last quarter. 14.43% of the stock is owned by hedge funds and other institutional investors.
Foresight Energy Company Profile
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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