FBR & Co Reiterates $3.00 Price Target for Foresight Energy LP (FELP)

FBR & Co set a $3.00 target price on Foresight Energy LP (NYSE:FELP) in a research report sent to investors on Thursday morning. The brokerage currently has a a hold rating on the stock.

Separately, Zacks Investment Research raised shares of Foresight Energy from a sell rating to a hold rating in a report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock presently has an average rating of Hold and an average target price of $4.57.

Shares of Foresight Energy (NYSE:FELP) opened at 4.28 on Thursday. The company’s market capitalization is $560.89 million. The firm’s 50-day moving average is $4.18 and its 200-day moving average is $2.55. Foresight Energy has a 12-month low of $1.07 and a 12-month high of $8.76.

Foresight Energy (NYSE:FELP) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.15. Foresight Energy had a negative return on equity of 272.74% and a negative net margin of 8.59%. The firm earned $226 million during the quarter, compared to analysts’ expectations of $201.10 million. On average, equities analysts predict that Foresight Energy will post ($0.69) EPS for the current year.

A hedge fund recently raised its stake in Foresight Energy stock. Arrow Investment Advisors LLC increased its position in shares of Foresight Energy LP (NYSE:FELP) by 187.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 585,560 shares of the company’s stock after buying an additional 382,000 shares during the period. Arrow Investment Advisors LLC owned 0.45% of Foresight Energy worth $913,000 at the end of the most recent reporting period. 15.39% of the stock is currently owned by institutional investors.

About Foresight Energy

Foresight Energy LP (FELP) is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. The Company controls over three billion tons of coal in the state of Illinois. Its reserves consist principally of three contiguous blocks of high heat content (high Btu) thermal coal, which are used for longwall operations.

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