What’s Ahead for FirstEnergy Corp. (FE) After Reaching 52-Week High?

April 19, 2018 - By Ellis Scott

FirstEnergy Corp. (NYSE:FE) Logo

Investors sentiment increased to 1.18 in 2017 Q4. Its up 0.05, from 1.13 in 2017Q3. It improved, as 34 investors sold FirstEnergy Corp. shares while 157 reduced holdings. 60 funds opened positions while 166 raised stakes. 369.63 million shares or 2.53% more from 360.52 million shares in 2017Q3 were reported.
Mitsubishi Ufj Trust Banking stated it has 987,593 shares or 0.05% of all its holdings. Korea Investment Corporation holds 0.01% in FirstEnergy Corp. (NYSE:FE) or 98,651 shares. Axa owns 595,430 shares. 466,930 are owned by Stevens Capital Limited Partnership. 15,865 are owned by Wesbanco Bank & Trust. 127,509 are owned by Heartland Incorporated. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Corp holds 817,400 shares or 0.22% of its portfolio. Symons Mgmt accumulated 324,783 shares. 76,249 are owned by Miller Howard Invests Ny. Goldentree Asset Ltd Partnership reported 477,107 shares. Virtus Advisers Inc accumulated 5,398 shares or 0% of the stock. Credit Suisse Ag has invested 0.02% in FirstEnergy Corp. (NYSE:FE). Ftb accumulated 1,218 shares or 0% of the stock. Vermont-based Tru Of Vermont has invested 0.01% in FirstEnergy Corp. (NYSE:FE). Blackrock Inc stated it has 52.72 million shares.

The stock of FirstEnergy Corp. (NYSE:FE) hit a new 52-week high and has $37.65 target or 8.00 % above today’s $34.86 share price. The 6 months bullish chart indicates low risk for the $16.62B company. The 1-year high was reported on Apr, 19 by Barchart.com. If the $37.65 price target is reached, the company will be worth $1.33 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.68% or $0.24 during the last trading session, reaching $34.86. About 1.16M shares traded. FirstEnergy Corp. (NYSE:FE) has risen 10.00% since April 19, 2017 and is uptrending. It has underperformed by 1.55% the S&P500.

Analysts await FirstEnergy Corp. (NYSE:FE) to report earnings on April, 20 after the close. They expect $0.70 earnings per share, down 10.26 % or $0.08 from last year’s $0.78 per share. FE’s profit will be $333.78 million for 12.45 P/E if the $0.70 EPS becomes a reality. After $0.71 actual earnings per share reported by FirstEnergy Corp. for the previous quarter, Wall Street now forecasts -1.41 % negative EPS growth.

FirstEnergy Corp. (NYSE:FE) Ratings Coverage

Among 7 analysts covering FirstEnergy (NYSE:FE), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. FirstEnergy had 12 analyst reports since October 25, 2017 according to SRatingsIntel. The firm earned “Overweight” rating on Monday, November 13 by Morgan Stanley. The stock of FirstEnergy Corp. (NYSE:FE) has “Hold” rating given on Thursday, February 1 by RBC Capital Markets. Mizuho maintained the stock with “Hold” rating in Monday, February 26 report. The firm has “Overweight” rating by Morgan Stanley given on Thursday, March 8. The firm earned “Overweight” rating on Tuesday, February 13 by Morgan Stanley. Bank of America upgraded the shares of FE in report on Friday, January 26 to “Buy” rating. The rating was maintained by Guggenheim with “Buy” on Tuesday, January 2. The stock has “Hold” rating by Mizuho on Wednesday, October 25. The stock of FirstEnergy Corp. (NYSE:FE) earned “Hold” rating by Mizuho on Tuesday, January 30. Citigroup maintained the stock with “Neutral” rating in Tuesday, January 30 report.

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company has market cap of $16.62 billion. The firm operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services divisions. It currently has negative earnings. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

FirstEnergy Corp. (NYSE:FE) Institutional Positions Chart

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