Foresight Energy LP (FELP) Posts Earnings Results, Beats Expectations By $0.02 EPS
Foresight Energy LP (NYSE:FELP) issued its quarterly earnings data on Friday. The energy company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02, Morningstar.com reports. Foresight Energy had a negative return on equity of 34.99% and a negative net margin of 20.46%. The firm had revenue of $207.10 million during the quarter, compared to analysts’ expectations of $228.40 million. During the same period in the prior year, the business posted ($0.11) EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis.
Foresight Energy (FELP) traded up 17.06% during midday trading on Friday, reaching $4.46. The company’s stock had a trading volume of 115,793 shares. The firm’s market capitalization is $627.46 million. Foresight Energy has a 1-year low of $2.93 and a 1-year high of $8.33. The stock’s 50-day moving average price is $4.47 and its 200 day moving average price is $5.56.
The firm also recently declared a dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 21st will be paid a $0.0647 dividend. The ex-dividend date of this dividend is Thursday, August 17th.
A hedge fund recently raised its stake in Foresight Energy stock. Renaissance Technologies LLC raised its stake in Foresight Energy LP (NYSE:FELP) by 65.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,360 shares of the energy company’s stock after buying an additional 43,960 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of Foresight Energy worth $720,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 11.45% of the company’s stock.
A number of research firms have commented on FELP. Zacks Investment Research cut Foresight Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. FBR & Co decreased their price target on Foresight Energy from $6.00 to $4.00 and set a “mkt perform” rating for the company in a research note on Monday, May 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $6.50 price target (down from $8.00) on shares of Foresight Energy in a research note on Tuesday, May 16th. Finally, BidaskClub cut Foresight Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th.
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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