Foresight Energy LP (FELP) Bond Prices Fall 3%
An issue of Foresight Energy LP (NYSE:FELP) bonds fell 3% against their face value during trading on Thursday. The high-yield debt issue has a 11.5% coupon and will mature on April 1, 2023. The debt is now trading at $80.00 and was trading at $87.75 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.
FELP has been the topic of a number of recent analyst reports. FBR & Co set a $5.00 price target on shares of Foresight Energy and gave the company a “hold” rating in a research note on Tuesday, August 15th. ValuEngine lowered shares of Foresight Energy from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Foresight Energy from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub upgraded shares of Foresight Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Finally, Stifel Nicolaus restated a “hold” rating and set a $5.50 price target on shares of Foresight Energy in a research note on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.25.
Shares of Foresight Energy LP (NYSE FELP) traded up $0.05 during trading on Thursday, reaching $4.06. 14,602 shares of the company’s stock were exchanged, compared to its average volume of 42,032. The company has a current ratio of 0.70, a quick ratio of 0.41 and a debt-to-equity ratio of 1.71. Foresight Energy LP has a twelve month low of $3.53 and a twelve month high of $8.33.
Foresight Energy (NYSE:FELP) last released its quarterly earnings data on Thursday, November 9th. The energy company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). The business had revenue of $232.40 million during the quarter, compared to analyst estimates of $233.85 million. Foresight Energy had a negative return on equity of 9.94% and a negative net margin of 19.93%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. research analysts forecast that Foresight Energy LP will post -0.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be paid a $0.0605 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 5.96%. Foresight Energy’s payout ratio is currently -15.29%.
An institutional investor recently raised its position in Foresight Energy stock. BNP Paribas Arbitrage SA increased its position in shares of Foresight Energy LP (NYSE:FELP) by 5,739,700.0% during the third quarter, according to its most recent Form 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 period. 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 11.73% 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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