Foresight Energy LP (FELP) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Foresight Energy LP (NYSE:FELP) from a sell rating to a hold rating in a research note 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. “

Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Foresight Energy from a strong sell rating to a sell rating in a research note on Friday, September 15th. ValuEngine upgraded shares of Foresight Energy from a sell rating to a hold rating in a research note on Monday, September 18th. FBR & Co set a $5.00 price target on shares of Foresight Energy and gave the stock a hold rating in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus decreased their price target on shares of Foresight Energy from $6.50 to $5.50 and set a hold rating for the company in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $5.92.

Foresight Energy (FELP) traded down 1.15% on Friday, hitting $4.30. 26,538 shares of the company traded hands. The stock’s 50-day moving average is $4.23 and its 200 day moving average is $5.05. The firm’s market capitalization is $612.27 million. Foresight Energy has a 12 month low of $3.45 and a 12 month high of $8.33.

Foresight Energy (NYSE:FELP) last issued its quarterly earnings results on Friday, August 11th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Foresight Energy had a negative net margin of 21.13% and a negative return on equity of 15.37%. The company had revenue of $207.10 million during the quarter, compared to the consensus estimate of $228.40 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Equities analysts forecast that Foresight Energy will post ($0.99) EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 21st were issued a dividend of $0.0647 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.26 dividend on an annualized basis and a yield of 6.02%. Foresight Energy’s payout ratio is currently -14.36%.

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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