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JimVanMeerten (62.86)

First Energy's acquistions finally pay off

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January 07, 2011 – Comments (0) | RELATED TICKERS: FE

This morning I added First Energy Corp (FE) to the Barchart Van Meerten New High portfolio.  This stock has 2 things going for it 1 -- Recent price appreciation and 2 -- 6.30% dividend.  This could pay us a 12.50% total return if I'm reading this stock correctly.

FirstEnergy Corp. is a diversified energy services holding company as the result of the merger of Ohio Edison Company and Centerior Energy Corporation. FirstEnergy companies provide electricity and natural gas services and a wide array of energy-related products and services. FirstEnergy's four electric utility companies, Ohio Edison and its Pennsylvania Power subsidiary, The Illuminating Company and Toledo Edison, serve customers in northern and central Ohio and western Pennsylvania.

Recently this stock hit 17 new highs and is up 7.37% in just the last month.  The stock earned an 80% Barchart technical buy signal with a Relative Strength Index that is 75.51% and rising.  It traded recently at 38.01 well above its 50 day moving average of 36.17.

Although Wall Street brokerage analysts are recommending a hold position the investor sentiment on Motley Fool is high with the CAPS members voting 361 to 17 that the stock will beat the market.  The All Stars are also positive 105 to 5.

Jim Van Meerten is an advisor to Marketocracy Capital Managementwho uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or emailJimVanMeerten@gmail.com.

Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.

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