Luminus Management LLC Has Trimmed Firstenergy Corp (FE) Position by $146.46 Million as Stock Declined

March 15, 2018 - By Linda Rogers

Investors sentiment decreased to 1.13 in Q3 2017. 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. Stratos Wealth Prtn has invested 0.03% in FirstEnergy Corp. (NYSE:FE). Loomis Sayles Lp has 9,473 shares. E&G Advisors LP has invested 0.1% in FirstEnergy Corp. (NYSE:FE). Delta Asset Mgmt Lc Tn has 663 shares for 0% of their portfolio. 393 are held by Duncker Streett. Liberty Cap Management reported 1,000 shares or 0.02% of all its holdings. Oakworth Capital holds 575 shares or 0% of its portfolio. Foundry Prtn Limited Liability accumulated 0.58% or 467,965 shares. Vident Inv Advisory holds 0.04% of its portfolio in FirstEnergy Corp. (NYSE:FE) for 24,685 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0.09% of its portfolio in FirstEnergy Corp. (NYSE:FE). Liberty Mutual Grp Asset Mngmt invested in 0.03% or 17,969 shares. Heartland Inc has invested 0.26% in FirstEnergy Corp. (NYSE:FE). Old Mutual Investors (Uk) holds 25,500 shares. National Pension Service owns 437,518 shares or 0.07% of their US portfolio. 962,052 are owned by Mitsubishi Ufj Tru And Banking Corporation.

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 4.88 million 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 8.82 million 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 6.06 million 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 $3.78 billion US Long portfolio, upped its stake in Parsley Energy Inc (NYSE:PE) by 250,000 shares to 421,200 shares, valued at $11.09 million in 2017Q3, according to the filing. It also increased its holding in Berry Global Group Inc (NYSE:BERY) by 493,572 shares in the quarter, for a total of 2.46M shares, and has risen its stake in Echo Global Logistics Inc (NASDAQ:ECHO).

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 $337.66M 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 plans minuscule rate cut” on March 02, 2018, also with their article: “FirstEnergy Takes Another Multibillion-Dollar Hit From Plants” published on February 20, 2018, published: “FirstEnergy Confirms FES Bankruptcy” on March 01, 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: Steer Clear For Now” with publication date: March 14, 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. Deutsche Bank maintained it with “Hold” rating and $34 target in Monday, July 31 report. The rating was maintained by RBC Capital Markets with “Hold” on Sunday, September 10. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, October 13. On Tuesday, January 10 the stock rating was downgraded by Wells Fargo to “Market Perform”. On Tuesday, September 5 the stock rating was maintained by Jefferies with “Hold”. The firm earned “Sector Perform” rating on Thursday, April 28 by RBC Capital Markets. Morgan Stanley maintained the stock with “Overweight” rating in Friday, September 8 report. The firm earned “Hold” rating on Thursday, February 1 by RBC Capital Markets. The firm has “Hold” rating given on Thursday, April 28 by Jefferies. On Friday, November 6 the stock rating was downgraded by IBC to “Sector Underperform”.

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