Foresight Energy LP (NYSE:FELP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “
Separately, FBR & Co set a $3.00 price objective on Foresight Energy and gave the stock a “hold” rating in a report on Thursday, October 13th.
Shares of Foresight Energy (NYSE:FELP) traded up 6.58% on Thursday, hitting $7.45. The company’s stock had a trading volume of 51,220 shares. The company’s market cap is $976.39 million. The stock’s 50 day moving average is $6.85 and its 200-day moving average is $4.78. Foresight Energy has a 52 week low of $1.07 and a 52 week high of $8.33.
Foresight Energy (NYSE:FELP) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. The firm had revenue of $228.50 million for the quarter, compared to analysts’ expectations of $218.45 million. Foresight Energy had a negative return on equity of 272.74% and a negative net margin of 12.55%. On average, equities research analysts anticipate that Foresight Energy will post ($0.72) earnings per share for the current year.
In other Foresight Energy news, Director Christopher Cline acquired 48,727 shares of the business’s stock in a transaction on Thursday, December 15th. The shares were bought at an average price of $6.74 per share, with a total value of $328,419.98. Following the transaction, the director now directly owns 19,053,256 shares of the company’s stock, valued at approximately $128,418,945.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Life Sciences Fund L. Accipiter sold 577,546 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $7.14, for a total value of $4,123,678.44. The disclosure for this sale can be found here.
Institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of Foresight Energy by 36.2% in the third quarter. Morgan Stanley now owns 34,903 shares of the company’s stock valued at $133,000 after buying an additional 9,285 shares during the period. Acrospire Investment Management LLC increased its position in Foresight Energy by 131.9% in the third quarter. Acrospire Investment Management LLC now owns 32,234 shares of the company’s stock worth $122,000 after buying an additional 18,334 shares during the last quarter. Finally, Arrow Investment Advisors LLC increased its position in Foresight Energy by 187.7% in the second quarter. Arrow Investment Advisors LLC now owns 585,560 shares of the company’s stock worth $913,000 after buying an additional 382,000 shares during the last quarter. 14.77% of the stock is currently owned by institutional investors.
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. The Company controls over three billion tons of coal in the state of Illinois. Its reserves consist principally of over three contiguous blocks of high heat content (high Btu) thermal coal, which are used for longwall operations.
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