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.
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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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.
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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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