Foresight Energy (FELP) Downgraded by Zacks Investment Research to Sell
Foresight Energy (NYSE:FELP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
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. “
Several other analysts have also weighed in on the company. ValuEngine upgraded Foresight Energy from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Stifel Nicolaus reaffirmed a “hold” rating and set a $5.50 target price on shares of Foresight Energy in a research report on Sunday, October 29th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Foresight Energy in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Foresight Energy currently has an average rating of “Hold” and a consensus target price of $5.25.
Foresight Energy (NYSE:FELP) last announced its quarterly earnings data on Thursday, November 9th. The energy company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). The firm had revenue of $232.40 million during the quarter, compared to analyst estimates of $233.85 million. Foresight Energy had a negative net margin of 19.93% and a negative return on equity of 9.94%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. equities analysts anticipate that Foresight Energy will post -1.05 EPS for the current fiscal year.
A hedge fund recently raised its stake in Foresight Energy stock. BNP Paribas Arbitrage SA lifted its stake in shares of Foresight Energy LP (NYSE:FELP) by 5,739,700.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,398 shares of the energy company’s stock after purchasing an additional 57,397 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.07% of Foresight Energy worth $243,000 at the end of the most recent quarter. Institutional investors own 11.69% 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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