Brokerages Set Foresight Energy LP (FELP) Price Target at $2.50
Foresight Energy LP (NYSE:FELP) has earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company. Two research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $2.50.
A number of research analysts recently weighed in on the stock. FBR & Co set a $3.00 price objective on shares of Foresight Energy and gave the company a “hold” rating in a research report on Thursday, October 13th. Zacks Investment Research upgraded shares of Foresight Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 12th.
Foresight Energy (NYSE:FELP) opened at 6.91 on Friday. The stock’s 50 day moving average is $5.13 and its 200-day moving average is $3.19. The stock’s market capitalization is $899.32 million. Foresight Energy has a 52-week low of $1.07 and a 52-week high of $7.80.
Foresight Energy (NYSE:FELP) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.08. The company had revenue of $228.50 million for the quarter, compared to the consensus estimate of $218.45 million. Foresight Energy had a negative net margin of 12.55% and a negative return on equity of 272.74%. Equities research analysts anticipate that Foresight Energy will post ($0.74) EPS for the current fiscal year.
In other news, major shareholder Life Sciences Fund L. Accipiter sold 577,546 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $7.14, for a total transaction of $4,123,678.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Several hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased 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 during the last quarter. Acrospire Investment Management LLC increased 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 during the last quarter. Finally, Arrow Investment Advisors LLC increased 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 during the last quarter. Hedge funds and other institutional investors own 15.18% 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. The Company controls over three billion tons of coal in the state of Illinois. Its reserves consist principally of over three contiguous blocks of high heat content (high Btu) thermal coal, which are used for longwall operations.
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