As Firstenergy Corp (FE) Share Value Declined, Shareholder Luminus Management LLC Has Trimmed Position by $146.46 Million

March 15, 2018 - By Louis Casey

Investors sentiment decreased to 1.13 in Q3 2017. Its down 0.08, from 1.21 in 2017Q2. It dropped, 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. Howe And Rusling has invested 0% in FirstEnergy Corp. (NYSE:FE). 351 were accumulated by Sandy Spring Savings Bank. Stevens Capital Lp owns 474,024 shares. 4.11 million are held by Schwab Charles Inv. The New Jersey-based Supplemental Annuity Collective Of Nj has invested 0.41% in FirstEnergy Corp. (NYSE:FE). Cornerstone Advisors Inc accumulated 284 shares. Comerica Natl Bank reported 112,019 shares. Douglass Winthrop Limited Liability Corporation, New York-based fund reported 30,560 shares. Nikko Asset Mngmt Americas Inc reported 11,700 shares or 0.02% of all its holdings. New York State Teachers Retirement System invested in 0.06% or 718,970 shares. Hillsdale Inv Mgmt holds 24,300 shares or 0.13% of its portfolio. Thompson Siegel Walmsley Ltd owns 5.78 million shares for 2.14% of their portfolio. Morgan Stanley has invested 0.02% in FirstEnergy Corp. (NYSE:FE). Symons Inc owns 2.86% invested in FirstEnergy Corp. (NYSE:FE) for 367,337 shares. 437,518 were reported by National Pension Ser.

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 3.94 million 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 $15.89 billion 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 $3.78B US Long portfolio, upped its stake in Cheniere Energy Inc (NYSEMKT:LNG) by 381,108 shares to 418,412 shares, valued at $18.85M in 2017Q3, according to the filing. It also increased its holding in Ppl Corp (NYSE:PPL) by 306,506 shares in the quarter, for a total of 1.54 million shares, and has risen its stake in Trinseo S A (NYSE:TSE).

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 Confirms FES Bankruptcy” published on March 01, 2018, published: “FirstEnergy Takes Another Multibillion-Dollar Hit From Plants” on February 20, 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: “JCP&L Expects to Restore Customers from First Winter Storm by Late Tonight” with publication date: March 10, 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. As per Wednesday, July 19, the company rating was maintained by Citigroup. The company was maintained on Friday, March 18 by Barclays Capital. As per Wednesday, December 2, the company rating was maintained by Barclays Capital. Jefferies maintained it with “Hold” rating and $32 target in Monday, April 3 report. JP Morgan downgraded FirstEnergy Corp. (NYSE:FE) on Monday, May 1 to “Neutral” rating. The rating was downgraded by Goldman Sachs to “Sell” on Tuesday, July 26. Jefferies maintained the stock with “Hold” rating in Tuesday, September 5 report. The firm has “Hold” rating by Deutsche Bank given on Tuesday, August 25. Mizuho maintained FirstEnergy Corp. (NYSE:FE) on Monday, February 26 with “Hold” rating. On Wednesday, October 11 the stock rating was maintained by Jefferies with “Hold”.

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