The stock of FirstEnergy Corp. (NYSE:FE) is a huge mover today! About 2.74M shares traded hands. FirstEnergy Corp. (NYSE:FE) has declined 9.93% since April 11, 2016 and is downtrending. It has underperformed by 16.07% the S&P500.
The move comes after 6 months positive chart setup for the $12.98B company. It was reported on Nov, 11 by Barchart.com. We have $53.22 PT which if reached, will make NYSE:FE worth $8.57 billion more.
FirstEnergy Corp. (NYSE:FE) Ratings Coverage
Out of 15 analysts covering FirstEnergy (NYSE:FE), 5 rate it a “Buy”, 4 “Sell”, while 6 “Hold”. This means 33% are positive. FirstEnergy has been the topic of 37 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, November 6, the company rating was downgraded by IBC. On Tuesday, October 25 the stock rating was upgraded by Deutsche Bank to “Buy”. The stock has “Sell” rating given by Goldman Sachs on Tuesday, July 26. As per Friday, November 6, the company rating was maintained by RBC Capital Markets. The rating was initiated by Citigroup with “Sell” on Friday, September 18. The rating was maintained by Barclays Capital with “Overweight” on Friday, March 18. Barclays Capital maintained the stock with “Overweight” rating in Wednesday, December 2 report. On Tuesday, August 4 the stock rating was upgraded by RBC Capital Markets to “Outperform”. As per Thursday, December 3, the company rating was upgraded by Guggenheim. Barclays Capital upgraded the shares of FE in a report on Thursday, October 13 to “Overweight” 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 2016 Q2. 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.
Oakbrook Limited Liability Corporation has invested 0.05% of its portfolio in FirstEnergy Corp. (NYSE:FE). Savant Cap Lc holds 0.08% of its portfolio in FirstEnergy Corp. (NYSE:FE) for 8,105 shares. Chevy Chase Tru Holdings last reported 473,422 shares in the company. Jpmorgan Chase & has invested 0.01% of its portfolio in FirstEnergy Corp. (NYSE:FE). Alliancebernstein Lp has invested 0.02% of its portfolio in FirstEnergy Corp. (NYSE:FE). Tudor Corporation Et Al last reported 33,682 shares in the company. First Manhattan holds 0% or 800 shares in its portfolio. The Switzerland-based Gam Ag has invested 0.08% in FirstEnergy Corp. (NYSE:FE). The New York-based Sg Americas Llc has invested 0.02% in FirstEnergy Corp. (NYSE:FE). Intact Mgmt Incorporated holds 0.02% of its portfolio in FirstEnergy Corp. (NYSE:FE) for 13,000 shares. Moreover, Rodgers Brothers has 0.09% invested in FirstEnergy Corp. (NYSE:FE) for 6,318 shares. Morgan Stanley accumulated 0.01% or 750,931 shares. Fort Washington Invest Advisors Oh accumulated 57,121 shares or 0.04% of the stock. Blackrock Advsr Limited Liability holds 0.06% or 1.67M shares in its portfolio. Moreover, X Mngmt Co Ltd Company has 0.1% invested in FirstEnergy Corp. (NYSE:FE) for 54,212 shares.
More notable recent FirstEnergy Corp. (NYSE:FE) news were published by: Moodys.com which released: “Moody’s affirms FirstEnergy Corp.’s Baa3 Issuer rating; changed rating outlook …” on November 04, 2016, also Crainscleveland.com with their article: “FirstEnergy Corp. gets a bailout, but not the one it was hoping for” published on October 12, 2016, Prnewswire.com published: “FirstEnergy Continues Tree Trimming Program in Toledo Edison Service Area” on November 03, 2016. More interesting news about FirstEnergy Corp. (NYSE:FE) were released by: Prnewswire.com and their article: “FirstEnergy to Webcast Third Quarter Earnings Teleconference” published on October 27, 2016 as well as Nasdaq.com‘s news article titled: “Earnings Reaction History: FirstEnergy Corp., 50.0% Follow-Through Indicator …” with publication date: November 04, 2016.
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.