FBR & Co Cuts Foresight Energy LP (FELP) Price Target to $4.00

Foresight Energy LP (NYSE:FELP) had its target price decreased by FBR & Co from $6.00 to $4.00 in a report issued on Monday, May 15th, Marketbeat reports. FBR & Co currently has a mkt perform rating on the energy company’s stock.

Separately, Zacks Investment Research downgraded shares of Foresight Energy from a buy rating to a hold rating in a report on Thursday, January 19th.

Shares of Foresight Energy (NYSE:FELP) traded up 0.20% during mid-day trading on Monday, hitting $5.00. 17,730 shares of the stock were exchanged. The stock’s market cap is $703.44 million. Foresight Energy has a 12 month low of $1.42 and a 12 month high of $8.33. The stock’s 50 day moving average is $5.04 and its 200-day moving average is $6.22.

Foresight Energy (NYSE:FELP) last posted its quarterly earnings data on Thursday, May 11th. The energy company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.11. Foresight Energy had a negative net margin of 20.46% and a negative return on equity of 34.99%. The company had revenue of $230.40 million for the quarter, compared to analyst estimates of $225.10 million. During the same quarter last year, the company earned $0.33 EPS. The business’s revenue was up 38.7% compared to the same quarter last year. On average, analysts anticipate that Foresight Energy will post ($0.88) EPS for the current year.

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A number of large investors have recently modified their holdings of FELP. Morgan Stanley raised its stake in shares of Foresight Energy by 77.0% in the first quarter. Morgan Stanley now owns 26,200 shares of the energy company’s stock worth $164,000 after buying an additional 11,400 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Foresight Energy by 131.9% in the third quarter. Acrospire Investment Management LLC now owns 32,234 shares of the energy company’s stock worth $122,000 after buying an additional 18,334 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Foresight Energy by 65.2% in the fourth quarter. Renaissance Technologies LLC now owns 111,360 shares of the energy company’s stock worth $720,000 after buying an additional 43,960 shares in the last quarter. Hedge funds and other institutional investors own 11.47% of the company’s stock.

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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