Foresight Energy LP (NYSE:FELP) announced a quarterly dividend on Wednesday, March 7th, NASDAQ reports. Shareholders of record on Tuesday, March 20th will be paid a dividend of 0.056 per share by the energy company on Friday, March 30th. This represents a $0.22 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Monday, March 19th.
Foresight Energy has decreased its dividend by an average of 30.9% per year over the last three years. Foresight Energy has a payout ratio of -22.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Foresight Energy to earn ($0.31) per share next year, which means the company may not be able to cover its $0.24 annual dividend with an expected future payout ratio of -77.4%.
Shares of Foresight Energy (FELP) opened at $3.72 on Wednesday. The company has a market cap of $296.39, a price-to-earnings ratio of -2.43 and a beta of 0.81. Foresight Energy has a one year low of $3.53 and a one year high of $6.94. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.78.
A number of research firms have recently weighed in on FELP. ValuEngine upgraded shares of Foresight Energy from a “sell” rating to a “hold” rating in a report on Tuesday. B. Riley restated a “neutral” rating and issued a $4.00 target price (down from $5.00) on shares of Foresight Energy in a report on Thursday, March 8th. Finally, Zacks Investment Research downgraded shares of Foresight Energy from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Foresight Energy has a consensus rating of “Hold” and a consensus target price of $4.83.
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Foresight Energy Company Profile
Foresight Energy LP is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. As of December 31, 2016, the Company controlled 2.1 billion tons of coal in the state of Illinois. Its reserves consist principally of three contiguous blocks of uniform, thick, high heat content (high Btu) thermal coal, which are used for longwall operations.
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