Foresight Energy LP (FELP) Formed a Double Bottom Pattern, Could Be One of The Worst Performers Going Forward

January 23, 2018 - By Winifred Garcia

The chart of Foresight Energy LP (FELP) shows a double bottom with $3.73 target or 9.00 % below today’s $4.10 share price. The 5 months chart pattern indicates high risk for the $584.66 million company. It was reported on Jan, 23 by Finviz.com. If the $3.73 price target is reached, the company will be worth $52.62M less. Double bottoms are rare but powerful chart patterns.

It closed at $4.1 lastly. It is down 199.40% since January 23, 2017 and is uptrending. It has outperformed by 182.70% the S&P500.

Analysts await Foresight Energy LP (NYSE:FELP) to report earnings on March, 7. They expect $-0.07 EPS, up 81.08 % or $0.30 from last year’s $-0.37 per share. After $-0.07 actual EPS reported by Foresight Energy LP for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Foresight Energy LP (NYSE:FELP) Ratings Coverage

Among 11 analysts covering Foresight Energy LP (NYSE:FELP), 0 have Buy rating, 1 Sell and 10 Hold. Therefore 0 are positive. Foresight Energy LP has $17 highest and $1.50 lowest target. $8.17’s average target is 99.27% above currents $4.1 stock price. Foresight Energy LP had 28 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Foresight Energy LP (NYSE:FELP) earned “Outperform” rating by Cowen & Co on Tuesday, November 3. As per Thursday, September 21, the company rating was maintained by Stifel Nicolaus. The rating was maintained by Cowen & Co with “Outperform” on Monday, August 3. FBR Capital maintained Foresight Energy LP (NYSE:FELP) rating on Wednesday, November 23. FBR Capital has “Mkt Perform” rating and $6 target. On Tuesday, December 8 the stock rating was maintained by FBR Capital with “Mkt Perform”. The firm earned “Neutral” rating on Tuesday, August 15 by FBR Capital. On Monday, May 15 the stock rating was maintained by FBR Capital with “Mkt Perform”. On Tuesday, November 3 the stock rating was downgraded by Deutsche Bank to “Hold”. The stock of Foresight Energy LP (NYSE:FELP) has “Neutral” rating given on Monday, July 27 by Goldman Sachs. BB&T Capital downgraded the stock to “Hold” rating in Friday, October 30 report.

More notable recent Foresight Energy LP (NYSE:FELP) news were published by: Businesswire.com which released: “Foresight Energy LP Completes Global Restructuring” on August 30, 2016, also Moodys.com with their article: “Moody’s upgrades Foresight’s CFR to Caa2 from Caa3, outlook stable” published on September 02, 2016, Fool.com published: “Why Foresight Energy LP Units Fell More Than 10% in March” on April 05, 2017. More interesting news about Foresight Energy LP (NYSE:FELP) were released by: Seekingalpha.com and their article: “Impending Catalysts At Foresight Energy Will Drive Strong Returns” published on November 17, 2016 as well as Seekingalpha.com‘s news article titled: “Foresight Energy’s (FELP) CEO Rob Moore on Q1 2017 Results – Earnings Call …” with publication date: May 11, 2017.

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