FirstEnergy Corp. Sees Large Growth in Short Interest (FE)
FirstEnergy Corp. (NYSE:FE) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 14,671,699 shares, an increase of 21.5% from the April 15th total of 12,072,006 shares, Stock Ratings Network reports. Approximately 3.5% of the company’s shares are short sold. Based on an average daily trading volume, of 3,297,037 shares, the short-interest ratio is currently 4.4 days.
In other FirstEnergy Corp. news, EVP Charles Jones sold 14,010 shares of the stock on the open market in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $32.28, for a total value of $452,242.80. Following the transaction, the executive vice president now directly owns 60,572 shares of the company’s stock, valued at approximately $1,955,264. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on FE. Analysts at Jefferies Group upgraded shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. They now have a $37.00 price target on the stock, up previously from $6.00. Separately, analysts at Citigroup Inc. reiterated a “sell” rating on shares of FirstEnergy Corp. in a research note on Thursday, April 24th. They now have a $30.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of FirstEnergy Corp. in a research note on Wednesday, April 23rd. They now have a $34.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.20.
FirstEnergy Corp. (NYSE:FE) opened at 31.54 on Thursday. FirstEnergy Corp. has a 52 week low of $30.10 and a 52 week high of $43.21. The stock has a 50-day moving average of $33.33 and a 200-day moving average of $32.70. The company has a market cap of $13.244 billion and a P/E ratio of 32.34.
FirstEnergy Corp. (NYSE:FE) last released its earnings data on Tuesday, May 6th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.42 by $0.03. During the same quarter in the prior year, the company posted $0.76 earnings per share. Analysts expect that FirstEnergy Corp. will post $2.49 EPS for the current fiscal year.
FirstEnergy Corp. is a holding company. The Company is a diversified energy company operating in three segments: regulated distribution, regulated transmission and competitive energy services segment.
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