Foresight Energy Lp (NYSE:FELP) is Attracting Smart Money

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Foresight Energy Lp (NYSE:FELP) reported that Cline Christopher has picked up 20,552,766 of common stock as of 2017-03-30.

The acquisition brings the aggregate amount owned by Cline Christopher to a total of 20,552,766 representing a 27.1% stake in the company.

For those not familiar with the company, Foresight Energy LP 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 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 Company operates over four underground mining complexes in the Illinois Basin, including Williamson, which is located in southern Illinois near the town of Marion; Sugar Camp, which is located in southern Illinois approximately 10 miles north of Williamson; Hillsboro, which is located in central Illinois near the town of Hillsboro, and Macoupin, which is located in central Illinois near the town of Carlinville. Williamson, Sugar Camp and Hillsboro are longwall operations, and Macoupin is a continuous miner operation.

A glance at Foresight Energy Lp (NYSE:FELP)’s key stats reveals a current market capitalization of 844.43 Million based on 131.06 Million shares outstanding and a price at last close of $6.54 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-12-15, Cline picked up 23,197 at a purchase price of $6.74. This brings their total holding to 19,089,218 as of the date of the filing.

On the sell side, the most recent transaction saw Accipiter unload 200,000 shares at a sale price of $7.21. This brings their total holding to 2,823,351.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Foresight Energy Lp (NYSE:FELP) as things move forward to see if its progress aligns with these transactions.

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