Policy 11 of the Investment Dealers Association of Canada Policy and Rule 2711 of the National Association of Securities Dealers, Inc. require certain disclosure be provided in research reports. The purpose of this disclosure is to better enable investors to assess any potential conflict that may exist between the brokerage firm issuing the research, the publishing analyst and the subject company of the research.  

FirstEnergy Capital Corp. strives to maintain the highest level of disclosure in its research to ensure investors have the most current and accurate information available when making investment decisions.

Dissemination of Research

All clients, or potential clients, of FirstEnergy Capital Corp. can request to be provided with access to or
copies of research issued by our firm.

Individuals will be asked to provide information on which sector(s) they would like to receive research on and their preference as to the method of dissemination (i.e. hard copy, email or website access).
A senior management team will review all requests to ensure compliance with regulatory requirements
and that the research clients receive or obtain access to is appropriate given their interest levels.

Rating System

FirstEnergy’s rating system reflects our outlook for expected performance of an issuer’s equity securities relative to its peer group over the next twelve months. The following is an explanation of the rating system currently in use.

Top Pick (Buy) rating represents a security expected to provide a return materially higher than the peer group average.
Outperform (Buy) rating represents a security expected to provide a return greater than the peer group average.
Market Perform (Hold) rating represents a security expected to provide a return in line with the peer group average.
Underperform (Sell) rating represents a security expected to provide a return less than the peer group average.
Speculative Buy (Buy) rating represents a security where the return potential is high, but the risk of a significant loss is material.


Disclosures for Recent Publications

Below is a list of FirstEnergy Capital Corp. sectors and a direct link to the associated regulatory disclosures. If you require more information or archived information, please email us.   Research Group.

Sector

Q & A (PDF)

Price & Ranking Charts (PDF)

E1 - Oil & Gas Producer

E1-Disclosures

E1-Charts

E2 - Energy Service

E2-Disclosures

E2-Charts

E3 - Energy Transportation

E3-Disclosures

E3-Charts

E4 - Energy Electric

E4-Disclosures

E4-Charts

E6 - Energy Income Trusts

E6-Disclosures E6-Charts

 
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