Wellington Management Group LLP Has $47.32 Million Stock Position in FirstEnergy Corp. (NYSE:FE)

Wellington Management Group LLP lowered its stake in FirstEnergy Corp. (NYSE:FE) by 52.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,290,735 shares of the utilities provider’s stock after selling 1,416,584 shares during the quarter. Wellington Management Group LLP owned approximately 0.22% of FirstEnergy worth $47,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FE. Capital World Investors grew its holdings in FirstEnergy by 38.2% during the fourth quarter. Capital World Investors now owns 68,155,129 shares of the utilities provider’s stock worth $2,498,567,000 after purchasing an additional 18,853,983 shares during the period. Franklin Resources Inc. grew its holdings in FirstEnergy by 53.9% during the fourth quarter. Franklin Resources Inc. now owns 3,307,995 shares of the utilities provider’s stock worth $121,271,000 after purchasing an additional 1,158,034 shares during the period. 1832 Asset Management L.P. grew its holdings in FirstEnergy by 20.6% during the fourth quarter. 1832 Asset Management L.P. now owns 3,454,376 shares of the utilities provider’s stock worth $126,637,000 after purchasing an additional 590,815 shares during the period. Hudson Bay Capital Management LP boosted its holdings in shares of FirstEnergy by 447.1% during the third quarter. Hudson Bay Capital Management LP now owns 372,000 shares of the utilities provider’s stock worth $12,715,000 after acquiring an additional 304,000 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of FirstEnergy by 3.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,848,344 shares of the utilities provider’s stock worth $324,380,000 after acquiring an additional 272,478 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.1 %

Shares of NYSE:FE opened at $38.27 on Monday. The company has a fifty day moving average of $38.95 and a 200-day moving average of $37.94. The company has a market capitalization of $22.03 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.42 and a beta of 0.50. 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 52-week low of $32.18 and a 52-week high of $40.65.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their price objective on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. 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. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Mizuho boosted their price target on FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. Finally, The Goldman Sachs Group started coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and an average 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.