Zacks Investment Research upgraded shares of Foresight Energy (NYSE:FELP) from a sell rating to a hold rating in a research note released on Thursday.
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 research analysts have also issued reports on FELP. ValuEngine lowered shares of Foresight Energy from a hold rating to a sell rating in a report on Thursday, December 21st. B. Riley reaffirmed a neutral rating and set a $4.00 price target (down from $5.00) on shares of Foresight Energy in a report on Thursday, March 8th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Foresight Energy presently has an average rating of Hold and a consensus target price of $4.83.
Shares of Foresight Energy stock opened at $3.46 on Thursday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.36 and a current ratio of 0.49. Foresight Energy has a 1 year low of $3.28 and a 1 year high of $6.24.
Foresight Energy (NYSE:FELP) last announced its quarterly earnings results on Wednesday, March 7th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.13. The company had revenue of $284.61 million for the quarter, compared to analyst estimates of $264.75 million. Foresight Energy had a negative net margin of 18.78% and a negative return on equity of 3.93%. analysts expect that Foresight Energy will post -0.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Tuesday, March 20th were issued a dividend of $0.056 per share. This represents a $0.22 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date was Monday, March 19th.
A hedge fund recently raised its stake in Foresight Energy stock. BNP Paribas Arbitrage SA boosted its holdings in shares of Foresight Energy (NYSE:FELP) by 5,739,700.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,398 shares of the energy company’s stock after acquiring an additional 57,397 shares during the quarter. BNP Paribas Arbitrage SA owned 0.07% of Foresight Energy worth $243,000 at the end of the most recent quarter. 6.27% of the stock is owned by institutional investors.
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About Foresight Energy
Foresight Energy LP engages in the development, mining, production, marketing, transportation, and sale of thermal coal primarily in the eastern United States and internationally. As of March 7, 2018, the company operated two longwall mining complexes with three longwall mining systems in Williamson and Sugar Camp; one continuous mining operation in Macoupin; and the Sitran river terminal on the Ohio River.
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