Zacks Investment Research Lowers Foresight Energy (FELP) to Strong Sell

Zacks Investment Research lowered shares of Foresight Energy (NYSE:FELP) from a hold rating to a strong sell rating in a research report released on Monday morning, Zacks.com reports.

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, ValuEngine lowered Foresight Energy from a hold rating to a sell rating in a research note on Wednesday, May 1st.

Shares of NYSE:FELP traded up $0.05 during trading on Monday, hitting $0.72. The company had a trading volume of 1,700 shares, compared to its average volume of 160,802. The firm has a market capitalization of $97.74 million, a price-to-earnings ratio of -2.19 and a beta of 0.24. Foresight Energy has a one year low of $0.60 and a one year high of $4.10. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.59 and a quick ratio of 0.37.

Foresight Energy (NYSE:FELP) last posted its quarterly earnings data on Wednesday, February 27th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $298.91 million during the quarter, compared to the consensus estimate of $296.10 million. Foresight Energy had a negative net margin of 4.65% and a negative return on equity of 8.88%. As a group, analysts expect that Foresight Energy will post -0.39 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of FELP. Freestone Capital Holdings LLC bought a new stake in shares of Foresight Energy during the 1st quarter worth approximately $27,000. Citigroup Inc. lifted its stake in shares of Foresight Energy by 14.7% during the 4th quarter. Citigroup Inc. now owns 131,320 shares of the energy company’s stock worth $460,000 after acquiring an additional 16,782 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Foresight Energy by 0.7% during the 4th quarter. Bank of America Corp DE now owns 659,926 shares of the energy company’s stock worth $2,310,000 after acquiring an additional 4,300 shares during the last quarter. 1.05% of the stock is owned by hedge funds and other institutional investors.

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 February 27, 2019, 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.

Further Reading: What is Depreciation?

Get a free copy of the Zacks research report on Foresight Energy (FELP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Foresight Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foresight Energy and related companies with MarketBeat.com's FREE daily email newsletter.