Foresight Energy LP (FELP) Upgraded to Hold at Zacks Investment Research
Foresight Energy LP (NYSE:FELP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
Several other equities analysts also recently issued reports on FELP. BidaskClub downgraded Foresight Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. ValuEngine downgraded Foresight Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus cut their target price on Foresight Energy from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, August 16th. Finally, FBR & Co set a $5.00 target price on Foresight Energy and gave the company a “hold” rating in a research report on Tuesday, August 15th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $5.92.
Shares of Foresight Energy (NYSE FELP) traded down 1.15% during mid-day trading on Friday, reaching $4.30. The company’s stock had a trading volume of 26,538 shares. Foresight Energy has a one year low of $3.45 and a one year high of $8.33. The firm’s 50 day moving average is $4.23 and its 200 day moving average is $5.05. The firm’s market cap is $612.27 million.
Foresight Energy (NYSE:FELP) last issued its quarterly earnings results on Friday, August 11th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $207.10 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.11) earnings per share. On average, equities analysts anticipate 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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