NuWave Investment Management LLC Acquires Shares of 3,802 FirstEnergy Corp. (NYSE:FE)

NuWave Investment Management LLC acquired a new stake in FirstEnergy Corp. (NYSE:FEGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,802 shares of the utilities provider’s stock, valued at approximately $174,000.

A number of other institutional investors have also recently made changes to their positions in the business. Dixon Hughes Goodman Wealth Advisors LLC boosted its position in shares of FirstEnergy by 419.8% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 551 shares of the utilities provider’s stock valued at $25,000 after buying an additional 445 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $27,000. Rise Advisors LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $38,000. David J Yvars Group purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $41,000. Finally, Curi Wealth Management LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $41,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

FE has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on FirstEnergy from $43.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, April 25th. StockNews.com initiated coverage on FirstEnergy in a report on Thursday, March 31st. They set a “hold” rating on the stock. Mizuho dropped their price target on FirstEnergy from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, June 7th. Bank of America lowered FirstEnergy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $52.00 to $44.00 in a report on Monday, May 16th. Finally, Morgan Stanley dropped their price target on FirstEnergy from $53.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and an average price target of $46.50.

Shares of FE opened at $36.22 on Thursday. The firm has a market cap of $20.68 billion, a PE ratio of 16.17, a PEG ratio of 2.35 and a beta of 0.37. The stock’s fifty day moving average price is $42.46 and its two-hundred day moving average price is $42.36. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.52 and a quick ratio of 0.45. FirstEnergy Corp. has a 1 year low of $35.32 and a 1 year high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last issued its earnings results on Thursday, April 21st. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.02). The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.85 billion. FirstEnergy had a net margin of 10.85% and a return on equity of 17.17%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.41 earnings per share for the current fiscal year.

FirstEnergy Profile (Get Rating)

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

See Also

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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