Hexagon Capital Partners LLC Has $216,000 Holdings in FirstEnergy Corp. (NYSE:FE)

Hexagon Capital Partners LLC increased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 20.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,585 shares of the utilities provider’s stock after purchasing an additional 961 shares during the quarter. Hexagon Capital Partners LLC’s holdings in FirstEnergy were worth $216,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FE. Sachetta LLC acquired a new position in shares of FirstEnergy during the 4th quarter worth about $25,000. Sugarloaf Wealth Management LLC bought a new position in FirstEnergy in the fourth quarter valued at approximately $29,000. Scarborough Advisors LLC bought a new position in FirstEnergy in the fourth quarter valued at approximately $31,000. Blue Trust Inc. increased its position in shares of FirstEnergy by 327.3% during the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 792 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of FirstEnergy during the 4th quarter worth approximately $40,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

FE opened at $38.31 on Tuesday. The firm has a market cap of $22.05 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.42 and a beta of 0.49. The business’s fifty day moving average is $39.04 and its 200-day moving average is $37.98. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $40.65. 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 (NYSE:FE) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. Sell-side analysts expect that FirstEnergy Corp. will post 2.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America boosted their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. Morgan Stanley dropped their target price on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Mizuho lifted their price target on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. Scotiabank dropped their price objective on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.09.

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.