Foresight Energy LP (NYSE:FELP) announced its earnings results on Friday. The energy company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02, Morningstar.com reports. The firm had revenue of $207.10 million during the quarter, compared to analyst estimates of $228.40 million. Foresight Energy had a negative net margin of 20.46% and a negative return on equity of 34.99%. Foresight Energy’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS.
Foresight Energy (NYSE:FELP) opened at 4.46 on Friday. Foresight Energy has a 52-week low of $2.93 and a 52-week high of $8.33. The stock’s 50 day moving average is $4.47 and its 200 day moving average is $5.56. The company’s market cap is $627.46 million.
The business also recently announced a dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 21st will be given a $0.0647 dividend. The ex-dividend date is Thursday, August 17th.
A hedge fund recently raised its stake in Foresight Energy stock. Renaissance Technologies LLC raised its position in shares of Foresight Energy LP (NYSE:FELP) by 65.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,360 shares of the energy company’s stock after buying an additional 43,960 shares during the period. Renaissance Technologies LLC owned about 0.08% of Foresight Energy worth $720,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.45% of the company’s stock.
A number of equities analysts recently issued reports on FELP shares. Stifel Nicolaus reiterated a “hold” rating and issued a $6.50 target price (down previously from $8.00) on shares of Foresight Energy in a research report on Tuesday, May 16th. FBR & Co decreased their target price on shares of Foresight Energy from $6.00 to $4.00 and set a “mkt perform” rating for the company in a research report on Monday, May 15th. Zacks Investment Research lowered shares of Foresight Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, BidaskClub lowered shares of Foresight Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th.
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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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