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Firstenergy positioning

FirstEnergy Continues Slump as Positioning Indicates Decline

FirstEnergy (FE, CrowdThnk Positioning Score 6.4) continued its slump since hitting a high in Mid-November, falling -3% for the week ending December 15th.  Despite a positive positioning reading of 6.4, First Energy fell through its 100-day moving average of $32.41 towards its 200-day moving average of $31.26.  During the week, a consortium of energy companies including FirstEnergy, Metropolitan Edison, Pennsylvania Electric, Pennsylvania Power and West Penn Power utility companies filed plans  have filed plans with the Pennsylvania Public Utility Commission to procure electricity generation supply beginning June 2019 for customers who choose not to shop with alternate suppliers.  FirstEnergy is one of only a handful of electric utility holding companies with high yield bond ratings, highlighting the severity of the negative influence that an uncertain outcome of subsidiary FirstEnergy Solutions’ possible bankruptcy has. With this, FirstEnergy’s positioning, as measured by CrowdThnk, continues to plummet from a high of 10 in early-November to its current reading of 4.3.

Elsewhere, from the week starting December 9th, amongst CrowdThnk’s Top 5 High Conviction Forecasts, 4 stocks saw positive returns, moving in accordance with the forecast.  Of these, Alliance Data Systems (ADS, CrowdThnk Score 7.1, +2.87% Return), Boston Scientific (BSX, CrowdThnk Score 1.4, +2.8% Return) and Southwest (LUV, CrowdThnk Score 10.0, +3.95% Return) were the top performers.  On the negative side, only Nielsen (NLSN, CrowdThnk Score 2.9, -2.3% Return) registered a negative reading for the week.  Stay Tuned for market-related research and commentary in addition to stock market consensus positioning scores with CrowdThnk.