Could FirstEnergy Corp. (FE) Skyrocket Even More? The Stock Just Made 52-Week High

April 24, 2018 - By Clifton Ray

FirstEnergy Corp. (NYSE:FE) Logo

Investors sentiment increased to 1.18 in Q4 2017. Its up 0.05, from 1.13 in 2017Q3. It increased, 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.
State Of Wisconsin Board, a Wisconsin-based fund reported 619,770 shares. Clearbridge Investments Ltd Liability Com invested in 0% or 2,251 shares. Plante Moran Fin Advisors Limited Com reported 0.01% stake. Morgan Stanley invested in 2.15M shares or 0.02% of the stock. Panagora Asset Management Incorporated holds 180,480 shares or 0.02% of its portfolio. Sequoia Fincl Llc invested in 7,863 shares or 0.03% of the stock. Evercore Wealth Mgmt Lc stated it has 566 shares. Alps stated it has 1.47 million shares. 18,043 are held by Thrivent Financial For Lutherans. Smithfield Trust, a Pennsylvania-based fund reported 8,850 shares. Moreover, Natl Asset Mngmt has 0.03% invested in FirstEnergy Corp. (NYSE:FE) for 8,385 shares. Nuwave Lc reported 14,722 shares. Retirement System Of Alabama reported 319,650 shares stake. Moreover, Ls Advsrs Limited Liability Com has 0.03% invested in FirstEnergy Corp. (NYSE:FE) for 17,579 shares. Asset Mgmt One Commerce reported 703,951 shares stake.

The stock of FirstEnergy Corp. (NYSE:FE) hit a new 52-week high and has $36.74 target or 6.00 % above today’s $34.66 share price. The 9 months bullish chart indicates low risk for the $16.53 billion company. The 1-year high was reported on Apr, 24 by Barchart.com. If the $36.74 price target is reached, the company will be worth $991.62 million 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 increased 0.46% or $0.16 during the last trading session, reaching $34.66. About 1.08 million shares traded. FirstEnergy Corp. (NYSE:FE) has risen 10.00% since April 24, 2017 and is uptrending. It has underperformed by 1.55% the S&P500.

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 14 analyst reports since October 25, 2017 according to SRatingsIntel. The firm has “Overweight” rating by Morgan Stanley given on Monday, November 13. Morgan Stanley maintained the shares of FE in report on Tuesday, February 13 with “Overweight” rating. As per Monday, April 23, the company rating was maintained by RBC Capital Markets. The stock has “Hold” rating by Mizuho on Tuesday, January 30. Guggenheim maintained the shares of FE in report on Tuesday, January 2 with “Buy” rating. The firm earned “Overweight” rating on Monday, April 16 by Morgan Stanley. The company was maintained on Thursday, March 8 by Morgan Stanley. The company was maintained on Monday, February 26 by Mizuho. Bank of America upgraded FirstEnergy Corp. (NYSE:FE) rating on Friday, January 26. Bank of America has “Buy” rating and $36.0 target. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, April 24.

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company has market cap of $16.53 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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