November 28, 2016 - By Peter Erickson · 0 Comments
Firstenergy Corp (NYSE:FE) institutional sentiment decreased to 1.02 in Q2 2016. Its down -0.30, from 1.32 in 2016Q1. The ratio is negative, as 242 investment managers opened new and increased positions, while 184 sold and trimmed holdings in Firstenergy Corp. The investment managers in our partner’s database now own: 314.64 million shares, down from 317.87 million shares in 2016Q1. Also, the number of investment managers holding Firstenergy Corp in their top 10 positions increased from 5 to 6 for an increase of 1. Sold All: 46 Reduced: 138 Increased: 190 New Position: 52.
FirstEnergy Corp. is a holding company. The company has a market cap of $14.05 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.
About 114,205 shares traded hands. FirstEnergy Corp. (NYSE:FE) has declined 6.71% since April 25, 2016 and is downtrending. It has underperformed by 12.72% the S&P500.
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 $169.42 million for 20.72 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.
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)”
Nine Chapters Capital Management Llc holds 4.52% of its portfolio in FirstEnergy Corp. for 6,200 shares. Lesa Sroufe & Co owns 132,860 shares or 4.06% of their US portfolio. Moreover, Luminus Management Llc has 3.68% invested in the company for 3.66 million shares. The Wisconsin-based Reinhart Partners Inc. has invested 2.57% in the stock. Csat Investment Advisory L.P., a Michigan-based fund reported 34,141 shares.#img1#
Ratings analysis reveals 33% of FirstEnergy’s analysts are positive. Out of 15 Wall Street analysts rating FirstEnergy, 5 give it “Buy”, 4 “Sell” rating, while 6 recommend “Hold”. The lowest target is $1 while the high is $41.5. The stock’s average target of $35.10 is 8.57% above today’s ($32.33) share price. FE was included in 37 notes of analysts from July 21, 2015. The rating was upgraded by Guggenheim to “Buy” on Thursday, December 3. The firm earned “Sector Underperform” rating on Friday, November 6 by IBC. The rating was downgraded by Tudor Pickering on Wednesday, October 19 to “Sell”. The rating was maintained by UBS with “Neutral” on Tuesday, October 18. Barclays Capital maintained FirstEnergy Corp. (NYSE:FE) on Monday, May 9 with “Equal-Weight” rating. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, August 4. As per Tuesday, October 25, the company rating was upgraded by Deutsche Bank. As per Friday, September 18, the company rating was initiated by Citigroup. BMO Capital Markets initiated the shares of FE in a report on Thursday, January 14 with “Underperform” rating. The rating was upgraded by Wolfe Research on Wednesday, December 2 to “Peer Perform”.
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 recent FirstEnergy Corp. (NYSE:FE) news were published by: Prnewswire.com which released: “JCP&L Announces “Merry & Bright” Holiday Lights Photo Contest” on November 23, 2016. Also Moodys.com published the news titled: “Moody’s affirms FirstEnergy Corp.’s Baa3 Issuer rating; changed rating outlook …” on November 04, 2016. Prnewswire.com‘s news article titled: “Toledo Edison Announces “Merry & Bright” Holiday Lights Photo Contest” with publication date: November 23, 2016 was also an interesting one.
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By Peter Erickson