FirstEnergy Corp.(NYSE:FE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $3.40B. Analysts estimated a revenue of $3.57B. Earnings per share were $0.56. Analysts had estimated an EPS of $0.54.
In a different note, On Jul 26, 2016, Goldman Sachs said it Downgrades its rating on FirstEnergy Corp.. In the research note, the firm Lowers the price-target to $36.00 per share. The shares have been rated ‘Sell’ by the firm. On Jul 20, 2016, Citigroup said it Maintains its rating on FirstEnergy Corp.. In the research note, the firm Raises the price-target to $28.00 per share. The shares have been rated ‘Sell’ by the firm. On Jul 7, 2016, Jefferies said it Maintains its rating on FirstEnergy Corp.. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Hold’ by the firm. On May 9, 2016, Barclays said it Maintains its rating on FirstEnergy Corp.. In the research note, the firm Raises the price-target to $33.00 per share. The shares have been rated ‘Equal-weight’ by the firm.
FirstEnergy Corp. (FE) shares turned negative on Thursdays trading session with the shares closing down -0.13 points or -0.39% at a volume of 24,05,781. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $33.25. The peak price level was also seen at $33.25 while the days lowest was $32.82. Finally the shares closed at $32.93. The 52-week high of the shares is $36.6 while the 52-week low is $28.89. According to the latest information available, the market cap of the company is $14,002 M.
Several Insider Transactions has been reported to the SEC. On Mar 16, 2016, Steven E Strah (Sr VP & President FE Utilities) purchased 560 shares at $35.59 per share price.Also, On May 8, 2015, Donald R Schneider (President, FE Solutions) sold 10,775 shares at $34.63 per share price.On May 4, 2015, Anthony J Alexander (Executive Chairman) sold 54,436 shares at $36.85 per share price, according to the Form-4 filing with the securities and exchange commission.
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its 10 utility operating companies serving customers within 65000 square miles of Ohio Pennsylvania West Virginia Maryland New Jersey and New York. The Regulated Transmission segment transmits electricity through transmission facilities. The CES segment supplies electricity to end-use customers through retail and wholesale arrangements including retail sales to customers in Ohio Pennsylvania Illinois Michigan New Jersey and Maryland. The Company’s principal subsidiaries include Ohio Edison Company The Cleveland Electric Illuminating Company The Toledo Edison Company Metropolitan Edison Company Pennsylvania Electric Company FirstEnergy Service Company FirstEnergy Solutions Corp. Allegheny Energy Supply Company LLC among others.