Luminus Management LLC Has Lowered Position in Firstenergy Corp (FE) by $146.46 Million as Share Price Declined

March 15, 2018 - By Linda Rogers

Investors sentiment decreased to 1.13 in 2017 Q3. Its down 0.08, from 1.21 in 2017Q2. It worsened, as 35 investors sold FE shares while 155 reduced holdings. 54 funds opened positions while 161 raised stakes. 360.52 million shares or 3.08% more from 349.76 million shares in 2017Q2 were reported. Foundry Prns Lc holds 0.58% or 467,965 shares. Mason Street Advisors Ltd Liability holds 0.05% or 61,678 shares. 1.04 million are owned by Nationwide Fund Advsr. Ent Fincl invested in 0.02% or 1,370 shares. Hillsdale Mngmt has 0.13% invested in FirstEnergy Corp. (NYSE:FE) for 24,300 shares. Parametric Port Associates invested in 0.07% or 2.14M shares. Northpointe Cap Ltd Llc accumulated 0.47% or 144,184 shares. Neuberger Berman reported 0% of its portfolio in FirstEnergy Corp. (NYSE:FE). Pure Fincl Advsr has invested 0.11% of its portfolio in FirstEnergy Corp. (NYSE:FE). Deutsche Natl Bank Ag has 2.03 million shares for 0.04% of their portfolio. Hussman Strategic holds 1,000 shares or 0.01% of its portfolio. Becker Cap Mgmt holds 0.98% or 924,016 shares in its portfolio. Cullen Frost Bankers Incorporated accumulated 328,172 shares. Bessemer Group has invested 0% in FirstEnergy Corp. (NYSE:FE). Daiwa Securities Group reported 13,071 shares or 0% of all its holdings.

Jonathan Barrett decreased its stake in Firstenergy Corp (FE) by 55.34% based on its latest 2017Q3 regulatory filing with the SEC. Luminus Management Llc sold 4.88M shares as the company’s stock declined 8.93% while stock markets rallied. The hedge fund run by Jonathan Barrett held 3.94M shares of the central company at the end of 2017Q3, valued at $121.47 million, down from 8.82M at the end of the previous reported quarter. Luminus Management Llc who had been investing in Firstenergy Corp for a number of months, seems to be less bullish one the $15.89B market cap company. The stock increased 1.30% or $0.43 during the last trading session, reaching $33.42. About 6.06M shares traded. FirstEnergy Corp. (NYSE:FE) has declined 12.70% since March 15, 2017 and is downtrending. It has underperformed by 29.40% the S&P500.

Luminus Management Llc, which manages about $3.51B and $3.78B US Long portfolio, upped its stake in Consolidated Edison Inc (NYSE:ED) by 39,000 shares to 695,300 shares, valued at $56.10M in 2017Q3, according to the filing. It also increased its holding in Gran Tierra Energy Inc (NYSEMKT:GTE) by 3.68 million shares in the quarter, for a total of 20.87M shares, and has risen its stake in Parsley Energy Inc (NYSE:PE).

Analysts await FirstEnergy Corp. (NYSE:FE) to report earnings on April, 26. They expect $0.71 EPS, down 8.97 % or $0.07 from last year’s $0.78 per share. FE’s profit will be $337.66 million for 11.77 P/E if the $0.71 EPS becomes a reality. After $0.71 actual EPS reported by FirstEnergy Corp. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

More notable recent FirstEnergy Corp. (NYSE:FE) news were published by: which released: “FirstEnergy: Steer Clear For Now” on March 14, 2018, also with their article: “FirstEnergy plans minuscule rate cut” published on March 02, 2018, published: “JCP&L Expects to Restore Customers from First Winter Storm by Late Tonight” on March 10, 2018. More interesting news about FirstEnergy Corp. (NYSE:FE) were released by: and their article: “FirstEnergy Announces 2017 Financial Results” published on February 20, 2018 as well as‘s news article titled: “FirstEnergy Confirms FES Bankruptcy” with publication date: March 01, 2018.

FirstEnergy Corp. (NYSE:FE) Ratings Coverage

Among 20 analysts covering FirstEnergy (NYSE:FE), 7 have Buy rating, 1 Sell and 12 Hold. Therefore 35% are positive. FirstEnergy has $47.0 highest and $1 lowest target. $35.39’s average target is 5.89% above currents $33.42 stock price. FirstEnergy had 75 analyst reports since July 21, 2015 according to SRatingsIntel. Barclays Capital downgraded FirstEnergy Corp. (NYSE:FE) on Friday, December 2 to “Equal Weight” rating. The stock of FirstEnergy Corp. (NYSE:FE) has “Buy” rating given on Tuesday, October 18 by Evercore. Morgan Stanley maintained the shares of FE in report on Friday, September 8 with “Overweight” rating. The stock has “Overweight” rating by Barclays Capital on Monday, May 1. The stock of FirstEnergy Corp. (NYSE:FE) has “Overweight” rating given on Thursday, August 10 by Morgan Stanley. RBC Capital Markets maintained FirstEnergy Corp. (NYSE:FE) on Sunday, October 15 with “Hold” rating. The company was maintained on Monday, May 9 by Barclays Capital. The stock has “Hold” rating by Mizuho on Tuesday, January 30. Jefferies maintained it with “Hold” rating and $33.0 target in Tuesday, September 5 report. The rating was downgraded by TheStreet to “Buy” on Wednesday, September 2.

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