Foresight Energy LP (FELP) Releases Earnings Results, Misses Expectations By $0.08 EPS
Foresight Energy LP (NYSE:FELP) issued its quarterly earnings data on Wednesday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.08. The business had revenue of $228.50 million for the quarter, compared to analyst estimates of $218.45 million. Foresight Energy had a negative return on equity of 272.74% and a negative net margin of 8.59%.
Foresight Energy (NYSE:FELP) opened at 7.07 on Friday. The stock has a 50 day moving average price of $4.89 and a 200 day moving average price of $3.07. The stock’s market cap is $926.52 million. Foresight Energy has a 52 week low of $1.07 and a 52 week high of $7.80.
FELP has been the subject of a number of recent analyst reports. FBR & Co set a $3.00 price objective on Foresight Energy and gave the stock a “hold” rating in a research report on Thursday, October 13th. Zacks Investment Research raised Foresight Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $4.08.
A number of institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its stake in shares of Foresight Energy by 131.9% in the third quarter. Acrospire Investment Management LLC now owns 32,234 shares of the company’s stock valued at $122,000 after buying an additional 18,334 shares in the last quarter. Morgan Stanley raised its stake in shares of Foresight Energy by 36.2% in the third quarter. Morgan Stanley now owns 34,903 shares of the company’s stock valued at $133,000 after buying an additional 9,285 shares in the last quarter. Finally, Arrow Investment Advisors LLC raised its stake in shares of Foresight Energy by 187.7% in the second quarter. Arrow Investment Advisors LLC now owns 585,560 shares of the company’s stock valued at $913,000 after buying an additional 382,000 shares in the last quarter. Hedge funds and other institutional investors own 15.39% of the company’s stock.
Foresight Energy Company Profile
Foresight Energy LP (FELP) is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. The Company controls over three billion tons of coal in the state of Illinois. Its reserves consist principally of three contiguous blocks of high heat content (high Btu) thermal coal, which are used for longwall operations.
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