Foresight Energy LP (FELP) Cut to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Foresight Energy LP (NYSE:FELP) from a hold rating to a sell rating in a report published 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. “
A number of other research firms also recently weighed in on FELP. FBR & Co set a $5.00 target price on Foresight Energy and gave the stock a hold rating in a research report on Tuesday, August 15th. Stifel Nicolaus decreased their price objective on Foresight Energy from $6.50 to $5.50 and set a hold rating on the stock in a report on Wednesday, August 16th. ValuEngine downgraded Foresight Energy from a hold rating to a sell rating in a report on Wednesday, August 23rd. BidaskClub raised Foresight Energy from a strong sell rating to a sell rating in a report on Friday, September 15th. Finally, B. Riley reaffirmed a neutral rating on shares of Foresight Energy in a report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $5.25.
Shares of Foresight Energy (NYSE FELP) opened at $4.25 on Friday. Foresight Energy has a 1 year low of $3.53 and a 1 year high of $8.33. 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 (NYSE:FELP) last issued its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 net margin of 19.93% and a negative return on equity of 9.94%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. analysts predict that Foresight Energy will post -1.06 EPS for the current year.
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The company also recently announced 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Friday, November 17th. Foresight Energy’s dividend payout ratio (DPR) is currently -15.38%.
An institutional investor recently raised its position in Foresight Energy stock. BNP Paribas Arbitrage SA grew its position in Foresight Energy LP (NYSE:FELP) by 5,739,700.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,398 shares of the energy company’s stock after acquiring an additional 57,397 shares during the period. BNP Paribas Arbitrage SA owned 0.07% of Foresight Energy worth $243,000 at the end of the most recent reporting period. Institutional investors own 11.72% 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. 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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