Stock of The Day: Could FirstEnergy Corp. See a Reversal After This Very Strong Session?

Stock of The Day: Could FirstEnergy Corp. See a Reversal After This Very Strong Session?

The stock of FirstEnergy Corp. (NYSE:FE) is a huge mover today! About 2.13 million shares traded hands. FirstEnergy Corp. (NYSE:FE) has declined 7.62% since March 3, 2016 and is downtrending. It has underperformed by 15.97% the S&P500.
The move comes after 5 months positive chart setup for the $13.34 billion company. It was reported on Oct, 6 by Barchart.com. We have $51.19 PT which if reached, will make NYSE:FE worth $8.27 billion more.

Analysts await FirstEnergy Corp. (NYSE:FE) to report earnings on November, 3. They expect $0.71 earnings per share, down 26.80% or $0.26 from last year’s $0.97 per share. FE’s profit will be $299.73 million for 11.13 P/E if the $0.71 EPS becomes a reality. After $0.56 actual earnings per share reported by FirstEnergy Corp. for the previous quarter, Wall Street now forecasts 26.79% EPS growth.

FirstEnergy Corp. (NYSE:FE) Ratings Coverage

Out of 12 analysts covering FirstEnergy (NYSE:FE), 2 rate it a “Buy”, 4 “Sell”, while 6 “Hold”. This means 17% are positive. FirstEnergy has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. RBC Capital Markets upgraded the stock to “Outperform” rating in Tuesday, August 4 report. The rating was maintained by Citigroup with “Sell” on Wednesday, July 20. The stock of FirstEnergy Corp. (NYSE:FE) earned “Neutral” rating by UBS on Tuesday, October 13. JP Morgan initiated FirstEnergy Corp. (NYSE:FE) rating on Friday, September 11. JP Morgan has “Overweight” rating and $38 price target. The company was maintained on Wednesday, December 2 by Barclays Capital. The firm earned “Sector Perform” rating on Friday, November 6 by RBC Capital Markets. The company was downgraded on Thursday, April 28 by Jefferies. The stock of FirstEnergy Corp. (NYSE:FE) earned “Neutral” rating by Goldman Sachs on Monday, October 19. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, April 28. The firm earned “Equal-Weight” rating on Thursday, April 28 by Barclays Capital.

According to Zacks Investment Research, “FirstEnergy Corp. is a diversified energy services holding company as the result of the merger of Ohio Edison Company and Centerior Energy Corporation. FirstEnergy companies provide electricity and natural gas services and a wide array of energy-related products and services. FirstEnergy’s four electric utility companies, Ohio Edison and its Pennsylvania Power subsidiary, The Illuminating Company and Toledo Edison, serve customers in northern and central Ohio and western Pennsylvania. (Company Press Release)”

Insitutional Activity: The institutional sentiment decreased to 1.32 in 2016 Q2. Its down 0.24, from 1.56 in 2016Q1. The ratio worsened, as 46 funds sold all FirstEnergy Corp. shares owned while 138 reduced positions. 52 funds bought stakes while 190 increased positions. They now own 314.64 million shares or 1.02% less from 317.87 million shares in 2016Q1.
Quantbot Technologies L P holds 0.14% or 37,753 shares in its portfolio. Blackrock Advisors, a Delaware-based fund reported 1.67 million shares. Korea owns 125,800 shares or 0.03% of their US portfolio. Moreover, Raymond James Advsrs has 0.02% invested in FirstEnergy Corp. (NYSE:FE) for 47,846 shares. Moreover, Prudential Finance has 0.27% invested in FirstEnergy Corp. (NYSE:FE) for 4.55M shares. Commonwealth Equity Services Incorporated accumulated 0.02% or 74,704 shares. Moreover, Dreman Value Mgmt L L C has 0.21% invested in FirstEnergy Corp. (NYSE:FE) for 9,773 shares. The Massachusetts-based Boston Prns has invested 0.1% in FirstEnergy Corp. (NYSE:FE). Fukoku Mutual Life Comm has invested 0.03% of its portfolio in FirstEnergy Corp. (NYSE:FE). Cap Rech Global Investors accumulated 0.02% or 1.37 million shares. Zimmer Prtnrs Ltd Partnership accumulated 1.12% or 1.08 million shares. Los Angeles Capital Management And Equity Rech Inc last reported 901,690 shares in the company. Royal London Asset Limited holds 0.08% or 141,740 shares in its portfolio. Bluecrest Cap Management Ltd last reported 16,460 shares in the company. Toronto Dominion Retail Bank has invested 0% of its portfolio in FirstEnergy Corp. (NYSE:FE).

More news for FirstEnergy Corp. (NYSE:FE) were recently published by: Prnewswire.com, which released: “FirstEnergy Corp. Declares Unchanged Common Stock Dividend” on September 20, 2016. Prnewswire.com‘s article titled: “FirstEnergy President and CEO Charles E. Jones to Speak at Wolfe Power & Gas …” and published on September 21, 2016 is yet another important article.

FE Company Profile

FirstEnergy Corp., incorporated on September 17, 1996, is a holding company. The Firm operates through three divisions: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Firm and its subsidiaries are involved in the generation, transmission and distribution of electricity. The Company’s approximately 10 utility operating companies comprise investor-owned electric systems, serving over six million clients in the Midwest and Mid-Atlantic regions. The Company’s generation subsidiaries control approximately 17,000 megawatts of capacity from a diverse mix of non-emitting nuclear, scrubbed coal, natural gas, hydroelectric and other renewables. The Company’s transmission activities include approximately 24,000 miles of lines and approximately two regional transmission operation centers.

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