FirstEnergy Corporation (FE): Price Target and June Short Interest Disclosure

FirstEnergy Corporation (FE) has been rated by 8 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $38 and the lowest price target forecast is $33. The average forecast of all the analysts is $35.88 and the expected standard deviation is $1.89.

FirstEnergy Corporation (FE) has seen a rise of 1,737,460 shares or 21% in the short interest. The remaining shorts are 2.4% of the total floated shares. The net short interest, as on June 30,2016, stood at 10,026,391 shares and the stocks days to cover will be 3 by factoring in the average per day volume of 3,816,519 shares. On June 15,2016, 8,288,931 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Major Brokerage house, Jefferies maintains its ratings on FirstEnergy Corporation (NYSE:FE). In the latest research report, Jefferies raises the target price from $35 per share to $36 per share. According to the latest information available, the shares are now rated Hold by the analysts at the agency. The rating by the firm was issued on July 7, 2016.


FirstEnergy Corporation (NYSE:FE): On Thursdays trading session , Opening price of the stock was $36.23 with an intraday high of $36.4. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $35.825. However, the stock managed to close at $35.85, a loss of 1.62% for the day. On the previous day, the stock had closed at $36.44. The total traded volume of the day was 3,796,199 shares.

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 65,000 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 Companys 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.

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