In today’s session FirstEnergy Corp. (FE) registered an unusually high (185) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious FE increase. With 185 contracts traded and 32374 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: FE170120C00037000 closed last at: $0.3 or 25% down. About 1.23M shares traded hands. FirstEnergy Corp. (NYSE:FE) has declined 6.17% since March 2, 2016 and is downtrending. It has underperformed by 14.43% the S&P500.
Analysts await FirstEnergy Corp. (NYSE:FE) to report earnings on November, 3. They expect $0.71 EPS, down 26.80% or $0.26 from last year’s $0.97 per share. FE’s profit will be $295.53M for 11.10 P/E if the $0.71 EPS becomes a reality. After $0.56 actual EPS 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. $41.5 is the highest target while $1 is the lowest. The $35.50 average target is 12.63% above today’s ($31.52) stock price. FirstEnergy has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Tuesday, August 25 by Deutsche Bank. On Monday, May 9 the stock rating was maintained by Barclays Capital with “Equal-Weight”. Goldman Sachs upgraded FirstEnergy Corp. (NYSE:FE) on Monday, October 19 to “Neutral” rating. The firm has “Underperform” rating given on Thursday, January 14 by BMO Capital Markets. Jefferies downgraded the stock to “Hold” rating in Thursday, April 28 report. The rating was initiated by Citigroup on Friday, September 18 with “Sell”. Goldman Sachs downgraded FirstEnergy Corp. (NYSE:FE) rating on Tuesday, July 26. Goldman Sachs has “Sell” rating and $31 price target. The stock of FirstEnergy Corp. (NYSE:FE) has “Neutral” rating given on Tuesday, October 13 by UBS. On Thursday, April 28 the stock rating was downgraded by Barclays Capital to “Equal-Weight”. Wolfe Research upgraded the shares of FE in a report on Wednesday, December 2 to “Peer Perform” rating.
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 Q2 2016. Its down 0.24, from 1.56 in 2016Q1. The ratio dropped, 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.
Chevy Chase Hldg Inc owns 473,422 shares or 0.09% of their US portfolio. Rothschild Asset Incorporated holds 0.01% of its portfolio in FirstEnergy Corp. (NYSE:FE) for 12,269 shares. Cornerstone Advsr holds 0% of its portfolio in FirstEnergy Corp. (NYSE:FE) for 102 shares. Engineers Gate Manager L P accumulated 18,989 shares or 0.05% of the stock. Blackrock Invest Management last reported 1.06 million shares in the company. Ridgeworth Capital Management Lc holds 0% or 78 shares in its portfolio. The California-based Wells Fargo And Com Mn has invested 0.03% in FirstEnergy Corp. (NYSE:FE). Barclays Public Ltd Liability Co holds 184,064 shares or 0.01% of its portfolio. Arrow Finance has invested 0.01% of its portfolio in FirstEnergy Corp. (NYSE:FE). Gulf Bank & Trust (Uk) Limited has 0.07% invested in the company for 124,769 shares. Fifth Third National Bank & Trust holds 0.01% of its portfolio in FirstEnergy Corp. (NYSE:FE) for 23,351 shares. Credit Suisse Ag owns 617,883 shares or 0.02% of their US portfolio. The New York-based Renaissance Technology Ltd has invested 0.27% in FirstEnergy Corp. (NYSE:FE). Manufacturers Life Insurance Commerce The has invested 0.07% of its portfolio in FirstEnergy Corp. (NYSE:FE). Mengis Capital Mgmt has invested 0.3% of its portfolio in FirstEnergy Corp. (NYSE:FE).
FirstEnergy Corp. is a holding company. The company has a market cap of $13.12 billion. The Firm operates through three divisions: Regulated Distribution, Regulated Transmission and Competitive Energy Services . It currently has negative earnings. The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies.
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.
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’s Pennsylvania Utilities Offer Home Energy Audits” and published on September 26, 2016 is yet another important article.
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