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FE

FirstEnergy

$47.60

0.16 (0.34%)

17:36
10/15/19
10/15
17:36
10/15/19
17:36

FirstEnergy subsidiaries to transfer TMI-2 to a subsidiary of EnergySolutions

FirstEnergy announced that its wholly-owned subsidiaries GPU Nuclear, Metropolitan Edison Company, Jersey Central Power & Light Company and Pennsylvania Electric Company have entered into an agreement for transfer of Three Mile Island Nuclear Generating Station Unit 2, TMI-2, in Middletown, Pa. to TMI-2 Solutions, a subsidiary of EnergySolutions, Inc. of Charlotte, N.C. The agreement would transfer the plant, property, nuclear decommissioning trust fund, plant licenses and responsibility for decommissioning of TMI-2 to the EnergySolutions subsidiary. The transfer is subject to required state and federal regulatory approvals. If approved, the proposed transaction is expected to close in the second half of 2020. "Transfer of TMI-2 removes any future nuclear decommissioning obligations from FirstEnergy and is consistent with our strategy of focusing on regulated utility operations," said Greg Halnon, president and chief nuclear officer of GPU Nuclear. "EnergySolutions will complete the final remediation to transition TMI-2 from a safe and stable storage condition to a fully decommissioned facility."

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FE FirstEnergy
$47.60

0.16 (0.34%)

03/20/19
LEHM
03/20/19
NO CHANGE
LEHM
Barclays upgrades NextEra and FirstEnergy, downgrades NorthWestern
Barclays analyst Eric Beaumont upgraded both NextEra Energy (NEE) and FirstEnergy (FE) to Overweight from Equal Weight while downgrading NorthWestern (NWE) to Underweight from Equal Weight. The rating changes reflect the analyst's updated valuations based on 2021 estimates combined with price performance over the past quarter. On NextEra, he believes "top industry growth" combined with an above-average regulatory environment will drive the valuation. FirstEnergy currently looks like a "deep value or show-me story," but with a transformative 2018 behind it, execution on the story in 2019 will be the key driver to stock performance, Beaumont tells investors in a research note. For NorthWestern, the analyst thinks the stock is discounting too optimistic of an outcome for the Montana rate case.
04/05/19
BOFA
04/05/19
NO CHANGE
Target $48
BOFA
Buy
FirstEnergy a Buy at most compelling valuation in a year, says BofA/Merrill
BofA/Merrill analyst Julien Dumoulin-Smith kept his Buy rating and $48 price target on FirstEnergy, saying yesterday's 4% decline in the stock price driven by the rejection of its $4B restructuring plan by a bankruptcy court has taken its valuation to the "most compelling" level in the past year. The analyst notes that in spite of the concerns about additional environmental liabilities translating back to FirstEnergy, the regulators are lacking datapoints to identify further liabilities, adding that the company has also already allocated about $200M in a surety bond to address further concerns.
06/04/19
KEYB
06/04/19
UPGRADE
Target $46
KEYB
Overweight
FirstEnergy assumed with an Overweight from Sector Weight at KeyBanc
KeyBanc analyst Sophie Karp assumed coverage of FirstEnergy with an Overweight rating and $46 price target. The previous analyst covering the stock at the firm had a Sector Weight rating prior to dropping coverage. The analyst believes that after the spin-off of its merchant generation, FirstEnergy is "well-positioned to re-establish itself as a premier regulated utility." Karp also notes that the stock is trading at a 2-turn discount relative to its peers, which indicates that investors are underappreciating its above-average growth opportunities.
09/20/19
MZHO
09/20/19
DOWNGRADE
Target $48.5
MZHO
Neutral
FirstEnergy downgraded to Neutral from Buy at Mizuho
Mizuho analyst Paul Fremont downgraded FirstEnergy to Neutral from Buy with a price target of $48.50, up from $46. The analyst cites valuation for the downgrade as he believes the stock is fairly valued at current levels. The shares are pricing in much of the upside associated with successfully exiting the unregulated business, as well as removing any uncertainty related to rate case activity after settling in Ohio and New Jersey, Fremont tells investors in a research note.

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ESYJY

easyJet

$0.00

(0.00%)

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MSEX

Middlesex Water

$62.07

1.5 (2.48%)

20:31
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Middlesex Water 661K share Spot Secondary priced at $60.50 »

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DLAKY

Lufthansa

$0.00

(0.00%)

20:29
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20:29
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Lufthansa initiated at Goldman Sachs »

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TGT

Target

$110.86

0.27 (0.24%)

, LOW

Lowe's

$113.41

-1.62 (-1.41%)

20:25
11/19/19
11/19
20:25
11/19/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

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TGT

Target

$110.86

0.27 (0.24%)

LOW

Lowe's

$113.41

-1.62 (-1.41%)

NTES

NetEase

$288.77

-1.33 (-0.46%)

CPRT

Copart

$86.33

0.32 (0.37%)

LB

L Brands

$17.19

-0.67 (-3.75%)

03/08/13
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ICAGY

IAG

$0.00

(0.00%)

20:23
11/19/19
11/19
20:23
11/19/19
20:23
Initiation
IAG initiated at Goldman Sachs »

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RYAAY

Ryanair

$86.27

0.52 (0.61%)

20:20
11/19/19
11/19
20:20
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20:20
Initiation
Ryanair initiated at Goldman Sachs »

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LXFR

Luxfer

$17.57

0.16 (0.92%)

20:11
11/19/19
11/19
20:11
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Initiation
Luxfer initiated at B. Riley FBR »

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VAL

Valaris

$3.69

-0.515 (-12.26%)

20:09
11/19/19
11/19
20:09
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20:09
Initiation
Valaris initiated at Deutsche Bank »

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RIG

Transocean

$4.66

-0.16 (-3.32%)

20:03
11/19/19
11/19
20:03
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20:03
Initiation
Transocean initiated at Deutsche Bank »

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FTI

TechnipFMC

$19.29

-0.24 (-1.23%)

19:58
11/19/19
11/19
19:58
11/19/19
19:58
Initiation
TechnipFMC initiated at Deutsche Bank »

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SLB

Schlumberger

$34.31

-0.36 (-1.04%)

19:53
11/19/19
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19:53
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Initiation
Schlumberger initiated at Deutsche Bank »

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PTEN

Patterson-UTI

$8.49

-0.095 (-1.11%)

19:45
11/19/19
11/19
19:45
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19:45
Initiation
Patterson-UTI initiated at Deutsche Bank »

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SAFE

Safehold

$34.59

-1.33 (-3.70%)

19:38
11/19/19
11/19
19:38
11/19/19
19:38
Syndicate
Safehold 3M share Secondary priced at $34.00 »

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HP

Helmerich & Payne

$38.39

-0.45 (-1.16%)

19:36
11/19/19
11/19
19:36
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Initiation
Helmerich & Payne initiated at Deutsche Bank »

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HAL

Halliburton

$19.89

-0.26 (-1.29%)

19:31
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Initiation
Halliburton initiated at Deutsche Bank »

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  • 21

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BKR

Baker Hughes

$22.01

-0.155 (-0.70%)

19:24
11/19/19
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19:24
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19:24
Initiation
Baker Hughes initiated at Deutsche Bank »

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PHAT

Phathom Pharmaceuticals

$24.79

-0.09 (-0.36%)

19:23
11/19/19
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19:23
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Initiation
Phathom Pharmaceuticals initiated at Evercore ISI »

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SHW

Sherwin-Williams

$584.48

-1.13 (-0.19%)

19:20
11/19/19
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19:20
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19:20
Downgrade
Sherwin-Williams rating change at Edward Jones »

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SPY

SPDR S&P 500 ETF Trust

$311.95

-0.06 (-0.02%)

, SPX

S&P 500

$0.00

(0.00%)

19:17
11/19/19
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19:17
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19:17
Periodicals
Commerce Sec Ross says China trade talks still work in progress, Bloomberg says »

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SPY

SPDR S&P 500 ETF Trust

$311.95

-0.06 (-0.02%)

SPX

S&P 500

$0.00

(0.00%)

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BRY

Berry Petroleum

$8.90

-2.405 (-21.27%)

19:10
11/19/19
11/19
19:10
11/19/19
19:10
Downgrade
Berry Petroleum rating change at KeyBanc »

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NYMT

New York Mortgage

$6.25

0.015 (0.24%)

19:05
11/19/19
11/19
19:05
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19:05
Syndicate
New York Mortgage 25M share Spot Secondary priced at $6.10 »

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