Foresight Energy (FELP) Stock Rating Lowered by Zacks Investment Research

Foresight Energy (NYSE:FELP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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 analysts have also recently issued reports on FELP. B. Riley restated a “neutral” rating on shares of Foresight Energy in a research note on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating and issued a $5.50 price objective on shares of Foresight Energy in a research note on Sunday, October 29th. Finally, ValuEngine cut shares of Foresight Energy from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $5.25.

Shares of Foresight Energy (NYSE:FELP) traded down $0.12 during mid-day trading on Wednesday, hitting $3.90. 16,801 shares of the stock were exchanged, compared to its average volume of 27,881. Foresight Energy has a 52 week low of $3.53 and a 52 week high of $7.39. The firm has a market cap of $574.57, a PE ratio of -2.29 and a beta of 0.74. The company has a current ratio of 0.70, a quick ratio of 0.41 and a debt-to-equity ratio of 1.71.

An institutional investor recently raised its position in Foresight Energy stock. BNP Paribas Arbitrage SA grew its holdings in Foresight Energy LP (NYSE:FELP) by 5,739,700.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 0.07% of Foresight Energy worth $243,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 11.69% of the company’s stock.

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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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