We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FirstEnergy Corp. (FE - Free Report) was a big mover last session, as the company saw its shares rise more than 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $29.40 to $30.82 in the past one-month time frame.
The upside was driven after the company stated that it is likely to accept $2.5 billion in cash from a group of investors, including activist investment company Elliott Management Corporation, Zimmer Partners, LP, GIC and Bluescape. It will accept cash in exchange for newly issued preferred and common stock.
The company has seen two positive estimate revisions in the past one month, while its Zacks Consensus Estimate has also moved higher over the same time frame, suggesting that more solid trading could be ahead for FirstEnergy. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
FirstEnergy currently has a Zacks Rank #3 (Hold), while its Earnings ESP is positive.
Is FE going up? Or down? Predict to see what others think: Up or Down
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
FirstEnergy (FE) Catches Eye: Stock Jumps 10.4%
FirstEnergy Corp. (FE - Free Report) was a big mover last session, as the company saw its shares rise more than 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $29.40 to $30.82 in the past one-month time frame.
The upside was driven after the company stated that it is likely to accept $2.5 billion in cash from a group of investors, including activist investment company Elliott Management Corporation, Zimmer Partners, LP, GIC and Bluescape. It will accept cash in exchange for newly issued preferred and common stock.
The company has seen two positive estimate revisions in the past one month, while its Zacks Consensus Estimate has also moved higher over the same time frame, suggesting that more solid trading could be ahead for FirstEnergy. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
FirstEnergy currently has a Zacks Rank #3 (Hold), while its Earnings ESP is positive.
FirstEnergy Corporation Price
FirstEnergy Corporation Price | FirstEnergy Corporation Quote
A better-ranked stock in the Utility - Electric Power industry is Pampa Energia S.A. (PAM - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is FE going up? Or down? Predict to see what others think: Up or Down
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>