Foresight Energy LP (FELP) Upgraded by Zacks Investment Research to Hold
Foresight Energy LP (NYSE:FELP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” 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. “
A number of other equities research analysts have also recently commented on FELP. BidaskClub raised Foresight Energy from a “strong sell” rating to a “sell” rating in a report on Friday. FBR & Co set a $5.00 price target on Foresight Energy and gave the company a “hold” rating in a report on Tuesday, August 15th. Stifel Nicolaus decreased their price target on Foresight Energy from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, August 16th. Finally, ValuEngine cut Foresight Energy from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $5.92.
Foresight Energy (NYSE:FELP) traded up 0.94% during trading on Friday, reaching $4.28. The company had a trading volume of 7,857 shares. Foresight Energy has a one year low of $3.45 and a one year high of $8.33. The firm’s market capitalization is $609.42 million. The firm’s 50-day moving average price is $4.23 and its 200 day moving average price is $5.11.
Foresight Energy (NYSE:FELP) last posted its quarterly earnings results on Friday, August 11th. The energy company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. The business had revenue of $207.10 million for the quarter, compared to analysts’ expectations of $228.40 million. Foresight Energy had a negative return on equity of 15.37% and a negative net margin of 21.13%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. Equities analysts forecast that Foresight Energy will post ($0.99) earnings per share for the current fiscal year.
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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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