Stock On Watch: Does Foresight Energy LP Have More Gas After Touching 52-Week High?

Stock On Watch: Does Foresight Energy LP Have More Gas After Touching 52 Week High?

The stock of Foresight Energy LP (NYSE:FELP) hit a new 52-week high and has $9.86 target or 37.00% above today’s $7.20 share price. The 7 months bullish chart indicates low risk for the $943.57M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $9.86 price target is reached, the company will be worth $349.12M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 190,201 shares traded hands or 48.14% up from the average. Foresight Energy LP (NYSE:FELP) has risen 383.90% since April 7, 2016 and is uptrending. It has outperformed by 379.12% the S&P500.

Foresight Energy LP (NYSE:FELP) Ratings Coverage

Out of 11 analysts covering Foresight Energy LP (NYSE:FELP), 0 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 0 are positive. Foresight Energy LP has been the topic of 22 analyst reports since July 21, 2015 according to StockzIntelligence Inc. FBR Capital initiated Foresight Energy LP (NYSE:FELP) rating on Friday, September 18. FBR Capital has “Mkt Perform” rating and $7 price target. The firm has “Hold” rating given on Friday, October 30 by Stifel Nicolaus. The stock of Foresight Energy LP (NYSE:FELP) earned “Underweight” rating by Barclays Capital on Wednesday, December 9. FBR Capital maintained Foresight Energy LP (NYSE:FELP) rating on Tuesday, December 8. FBR Capital has “Mkt Perform” rating and $5 price target. The firm has “Buy” rating by Deutsche Bank given on Monday, October 5. The firm has “Outperform” rating by Cowen & Co given on Tuesday, November 3. The stock of Foresight Energy LP (NYSE:FELP) has “Neutral” rating given on Monday, November 9 by JP Morgan. The stock of Foresight Energy LP (NYSE:FELP) earned “Hold” rating by BB&T Capital on Friday, October 30. On Friday, January 22 the stock rating was downgraded by Morgan Stanley to “Equal-Weight”. The firm has “Neutral” rating given on Monday, July 27 by Goldman Sachs.

According to Zacks Investment Research, “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.”

More notable recent Foresight Energy LP (NYSE:FELP) news were published by: Reuters.com which released: “BRIEF-Foresight Energy LP announces third quarter 2016 results” on November 09, 2016, also Businesswire.com with their article: “Foresight Energy LP Announces Third Quarter 2016 Results” published on November 09, 2016, Fool.com published: “Why Foresight Energy Rocketed 60% Higher in October” on November 07, 2016. More interesting news about Foresight Energy LP (NYSE:FELP) were released by: Businesswire.com and their article: “Foresight Energy LP Completes Global Restructuring” published on August 30, 2016 as well as Fool.com‘s news article titled: “Why Foresight Energy LP’s Shares Popped 56% Today” with publication date: April 19, 2016.

FELP Company Profile

Foresight Energy LP (FELP), incorporated on January 26, 2012, is engaged in the mining and marketing of coal from reserves and activities located in the Illinois Basin. The Firm controls over three billion tons of coal in the state of Illinois. The Company’s reserves consist principally of over three contiguous blocks of high heat content (high Btu) thermal coal, which are used for longwall operations. Thermal coal is used by power plants and industrial steam boilers to produce electricity or process steam. The Firm operates over four underground mining complexes in the Illinois Basin, including Williamson, Sugar Camp, Hillsboro and Macoupin. The Company’s mining complexes operate in the Illinois Basin with approximately two located in Southern Illinois and over two located in Central Illinois. Williamson, Sugar Camp and Hillsboro are longwall operations, and Macoupin is a continuous miner operation.

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