FirstEnergy Corp. (FE Quick QuoteFE - 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.

A better-ranked stock in the Utility - Electric Power industry is Pampa Energia S.A. (PAM Quick QuotePAM - 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.

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