Foresight Energy (FELP) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Foresight Energy (NYSE:FELP) from a sell rating to a hold rating in a report issued on Wednesday, January 17th.

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 analysts have also weighed in on FELP. B. Riley reaffirmed a neutral rating on shares of Foresight Energy in a report on Wednesday, November 1st. ValuEngine lowered shares of Foresight Energy from a hold rating to a sell rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus reissued a hold rating and issued a $5.50 price target on shares of Foresight Energy in a report on Sunday, October 29th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has an average rating of Hold and an average target price of $5.25.

Foresight Energy (FELP) remained flat at $$4.09 during trading on Wednesday. The company had a trading volume of 22,752 shares, compared to its average volume of 28,402. The company has a current ratio of 0.70, a quick ratio of 0.41 and a debt-to-equity ratio of 1.71. The firm has a market cap of $581.80, a P/E ratio of -2.41 and a beta of 0.74. Foresight Energy has a 52-week low of $3.53 and a 52-week high of $7.50.

A hedge fund recently raised its stake in Foresight Energy stock. BNP Paribas Arbitrage SA raised its position in shares of Foresight Energy LP (NYSE:FELP) by 5,739,700.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 about 0.07% of Foresight Energy worth $243,000 at the end of the most recent reporting period. 11.69% of the stock is currently owned by hedge funds and other institutional investors.

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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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