Rise Advisors LLC Increases Stake in FirstEnergy Corp. (NYSE:FE)

Rise Advisors LLC raised its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 36.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,358 shares of the utilities provider’s stock after acquiring an additional 362 shares during the quarter. Rise Advisors LLC’s holdings in FirstEnergy were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP grew its holdings in FirstEnergy by 9.3% during the fourth quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 318 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of FirstEnergy by 1.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock valued at $977,000 after buying an additional 339 shares in the last quarter. Daymark Wealth Partners LLC grew its stake in shares of FirstEnergy by 0.5% during the 4th quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock valued at $2,641,000 after acquiring an additional 341 shares during the period. Twelve Points Wealth Management LLC increased its holdings in FirstEnergy by 5.0% in the 4th quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 361 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in FirstEnergy by 2.2% in the 3rd quarter. CWA Asset Management Group LLC now owns 16,706 shares of the utilities provider’s stock worth $571,000 after acquiring an additional 363 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price target on shares of FirstEnergy from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Scotiabank dropped their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Mizuho increased their price target on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Finally, The Goldman Sachs Group initiated coverage on FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.27.

FirstEnergy Stock Up 0.2 %

NYSE FE opened at $38.23 on Friday. The company has a market capitalization of $22.00 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.42 and a beta of 0.50. The stock has a 50 day moving average price of $38.93 and a 200-day moving average price of $37.93. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.56 and a current ratio of 0.65. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $40.65.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business 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%. As a group, equities analysts predict that FirstEnergy Corp. will post 2.69 EPS for the current fiscal year.

About FirstEnergy

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.