Foresight Energy LP (FELP) PT Lowered to $5.50
Foresight Energy LP (NYSE:FELP) had its target price lowered by equities research analysts at Stifel Nicolaus from $6.50 to $5.50 in a research note issued on Wednesday, MarketBeat.com reports. The brokerage currently has a “hold” rating on the energy company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 29.11% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Foresight Energy from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. FBR & Co set a $5.00 price objective on shares of Foresight Energy and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, BidaskClub lowered shares of Foresight Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th.
Foresight Energy (NYSE FELP) traded down 3.18% during trading on Wednesday, reaching $4.26. The company’s stock had a trading volume of 3,964 shares. The firm’s market capitalization is $606.58 million. Foresight Energy has a 52 week low of $3.15 and a 52 week high of $8.33. The firm has a 50-day moving average price of $4.43 and a 200-day moving average price of $5.46.
Foresight Energy (NYSE:FELP) last issued its quarterly earnings data on Friday, August 11th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $207.10 million during the quarter, compared to analysts’ expectations of $228.40 million. Foresight Energy had a negative net margin of 21.13% and a negative return on equity of 15.37%. Foresight Energy’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, equities analysts anticipate that Foresight Energy will post ($0.99) EPS for the current fiscal year.
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An institutional investor recently raised its position in Foresight Energy stock. Renaissance Technologies LLC increased its stake in shares of Foresight Energy LP (NYSE:FELP) by 65.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 111,360 shares of the energy company’s stock after buying an additional 43,960 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of Foresight Energy worth $720,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 11.46% of the company’s stock.
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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