FirstEnergy Corp. (NYSE:FE) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in FirstEnergy Corp. (NYSE:FEFree Report) by 214.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,567 shares of the utilities provider’s stock after purchasing an additional 50,176 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in FirstEnergy were worth $2,841,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Beacon Pointe Advisors LLC boosted its holdings in FirstEnergy by 1.0% in the fourth quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider’s stock valued at $1,358,000 after purchasing an additional 376 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of FirstEnergy in the fourth quarter worth about $1,644,000. Citigroup Inc. grew its holdings in FirstEnergy by 27.3% during the third quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock worth $34,810,000 after acquiring an additional 218,439 shares during the period. Lumbard & Kellner LLC purchased a new position in FirstEnergy during the fourth quarter valued at approximately $2,418,000. Finally, First Pacific Advisors LP lifted its holdings in FirstEnergy by 1.3% in the fourth quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock valued at $127,623,000 after acquiring an additional 45,350 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

FirstEnergy stock opened at $38.44 on Thursday. The company has a fifty day simple moving average of $39.05 and a 200-day simple moving average of $37.99. The firm has a market capitalization of $22.12 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.42 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $40.65.

FirstEnergy (NYSE:FEGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. On average, equities analysts anticipate that FirstEnergy Corp. will post 2.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FE. Bank of America raised their price objective on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective for the company. Mizuho increased their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. Scotiabank cut their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, FirstEnergy currently has an average rating of “Hold” and an average target price of $40.09.

View Our Latest Report on FirstEnergy

FirstEnergy Company Profile

(Free Report)

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, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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