Price Action To Observe: Could FirstEnergy Corp. Decline After Today’s Significant Increase?

Price Action To Observe: Could FirstEnergy Corp. Decline After Today's Significant Increase?

The stock of FirstEnergy Corp. (NYSE:FE) is a huge mover today! About 1.33M shares traded hands. FirstEnergy Corp. (NYSE:FE) has declined 8.65% since April 22, 2016 and is downtrending. It has underperformed by 14.05% the S&P500.
The move comes after 8 months positive chart setup for the $13.49B company. It was reported on Nov, 25 by Barchart.com. We have $33.37 PT which if reached, will make NYSE:FE worth $539.60M more.

Analysts await FirstEnergy Corp. (NYSE:FE) to report earnings on February, 21. They expect $0.39 earnings per share, down 32.76% or $0.19 from last year’s $0.58 per share. FE’s profit will be $163.95M for 20.57 P/E if the $0.39 EPS becomes a reality. After $0.90 actual earnings per share reported by FirstEnergy Corp. for the previous quarter, Wall Street now forecasts -56.67% negative EPS growth.

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. On Wednesday, December 2 the stock rating was maintained by Barclays Capital with “Overweight”. JP Morgan initiated the shares of FE in a report on Friday, September 11 with “Overweight” rating. RBC Capital Markets maintained the shares of FE in a report on Thursday, October 13 with “Sector Perform” rating. The stock has “Sell” rating given by Goldman Sachs on Tuesday, July 26. The firm has “Overweight” rating by Barclays Capital given on Friday, March 18. Barclays Capital downgraded it to “Equal-Weight” rating and $33 target price in Thursday, April 28 report. The rating was downgraded by TheStreet on Wednesday, September 2 to “Buy”. The rating was maintained by Deutsche Bank on Tuesday, August 25 with “Hold”. The stock of FirstEnergy Corp. (NYSE:FE) has “Sector Underperform” rating given on Friday, November 6 by IBC. The firm earned “Underperform” rating on Thursday, January 14 by BMO Capital Markets.

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 1.02 in 2016 Q2. Its down 0.30, from 1.32 in 2016Q1. The ratio is negative, 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.
Finance Mngmt accumulated 27 shares or 0% of the stock. Duncker Streett & accumulated 0% or 393 shares. Cornercap Invest Counsel accumulated 213,540 shares or 1.42% of the stock. Bridgewater Associates Ltd Partnership, a Connecticut-based fund reported 107,345 shares. Nine Chapters Mgmt Ltd accumulated 6,200 shares or 4.52% of the stock. Utah Retirement has 0.07% invested in the company for 77,756 shares. Highbridge Cap Mgmt Limited accumulated 0.7% or 1.23 million shares. Mondrian Prns Limited holds 1,819 shares or 0% of its portfolio. Legg Mason Asset Mgmt (Japan) Communication Ltd owns 19,000 shares or 0.71% of their US portfolio. Bluecrest Cap Mngmt Ltd has 0.02% invested in the company for 16,460 shares. National Planning has invested 0.02% of its portfolio in FirstEnergy Corp. (NYSE:FE). Credit Agricole S A holds 0.07% of its portfolio in FirstEnergy Corp. (NYSE:FE) for 485,416 shares. The Illinois-based Deere And has invested 0.05% in FirstEnergy Corp. (NYSE:FE). Riggs Asset Managment Incorporated has 0.02% invested in the company for 1,150 shares. Caisse De Depot Et Placement Du Quebec has 0.06% invested in the company for 684,423 shares.

More 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 Prnewswire.com published the news titled: “Penelec Completing Long-Term Infrastructure Improvement Plan” on November 21, 2016. Prnewswire.com‘s news article titled: “FirstEnergy Reminds Customers to Remain Vigilant Against Scams and Fraud” with publication date: November 15, 2016 was also an interesting one.

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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