Foresight Energy (FELP) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Foresight Energy (NYSE:FELP) from a hold rating to a buy rating in a report issued on Friday.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Foresight Energy from a strong sell rating to a hold rating in a research report on Friday, August 10th. B. Riley set a $5.00 target price on Foresight Energy and gave the company a hold rating in a research report on Wednesday, November 14th.

FELP stock traded up $0.09 during mid-day trading on Friday, reaching $3.79. 47,364 shares of the company’s stock were exchanged, compared to its average volume of 11,494. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 2.07. Foresight Energy has a 12-month low of $3.28 and a 12-month high of $4.62.

Foresight Energy (NYSE:FELP) last issued its quarterly earnings results on Wednesday, November 7th. The energy company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). The business had revenue of $293.94 million for the quarter, compared to analysts’ expectations of $260.00 million. Foresight Energy had a negative return on equity of 9.86% and a negative net margin of 9.62%. On average, equities analysts predict that Foresight Energy will post -0.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Tuesday, December 11th will be given a $0.0565 dividend. The ex-dividend date of this dividend is Monday, December 10th. This represents a $0.23 annualized dividend and a dividend yield of 5.96%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Accipiter Capital Management LLC lifted its position in shares of Foresight Energy by 0.5% in the second quarter. Accipiter Capital Management LLC now owns 7,705,398 shares of the energy company’s stock valued at $31,592,000 after acquiring an additional 40,475 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Foresight Energy in the third quarter valued at approximately $2,034,000. Finally, Freestone Capital Holdings LLC purchased a new position in shares of Foresight Energy in the third quarter valued at approximately $154,000. Institutional investors and hedge funds own 6.56% of the company’s stock.

Foresight Energy Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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