Mather Group LLC. Purchases Shares of 3,107 FirstEnergy Corp. (NYSE:FE)

Mather Group LLC. bought a new position in shares of FirstEnergy Corp. (NYSE:FE) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,107 shares of the utilities provider’s stock, valued at approximately $114,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in FirstEnergy by 9.3% in the 4th 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. boosted its stake in FirstEnergy by 1.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock valued at $977,000 after purchasing an additional 339 shares during the period. Daymark Wealth Partners LLC boosted its stake in FirstEnergy by 0.5% in the 4th quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock valued at $2,641,000 after purchasing an additional 341 shares during the period. Twelve Points Wealth Management LLC boosted its stake 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 valued at $278,000 after purchasing an additional 361 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake 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 valued at $571,000 after purchasing an additional 363 shares during the period. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

FirstEnergy stock opened at $38.27 on Friday. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $40.65. The stock has a fifty day moving average of $38.95 and a 200-day moving average 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. The stock has a market capitalization of $22.03 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.42 and a beta of 0.50.

FirstEnergy (NYSE:FE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.36 billion. On average, sell-side analysts expect that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on FirstEnergy from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Mizuho lifted their price objective on FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Bank of America lifted their price objective on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a report on Tuesday, April 23rd. Finally, Scotiabank dropped their price objective on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.27.

FirstEnergy Profile

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.