NuWave Investment Management LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,802 shares of the utilities provider’s stock, valued at approximately $174,000.
Several other institutional investors also recently made changes to their positions in FE. CHURCHILL MANAGEMENT Corp bought a new stake in FirstEnergy in the 1st quarter valued at $7,444,000. Beese Fulmer Investment Management Inc. raised its stake in FirstEnergy by 5.1% in the 1st quarter. Beese Fulmer Investment Management Inc. now owns 11,201 shares of the utilities provider’s stock valued at $514,000 after acquiring an additional 540 shares during the period. Brookstone Capital Management raised its stake in FirstEnergy by 37.3% in the 1st quarter. Brookstone Capital Management now owns 12,138 shares of the utilities provider’s stock valued at $569,000 after acquiring an additional 3,299 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC raised its stake in FirstEnergy by 419.8% in the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 551 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 445 shares during the period. Finally, City State Bank bought a new stake in FirstEnergy in the 4th quarter valued at $67,000. Institutional investors own 87.78% of the company’s stock.
FE has been the topic of a number of research analyst reports. Mizuho dropped their price target on FirstEnergy from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 7th. Credit Suisse Group began coverage on FirstEnergy in a report on Monday, April 25th. They issued an “outperform” rating and a $51.00 price objective on the stock. Morgan Stanley decreased their price objective on FirstEnergy from $53.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. StockNews.com began coverage on FirstEnergy in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company upped their price objective on FirstEnergy from $43.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, April 25th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FirstEnergy has a consensus rating of “Hold” and a consensus target price of $46.50.
FirstEnergy (NYSE:FE – Get Rating) last released its quarterly earnings data on Thursday, April 21st. The utilities provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.02). The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.85 billion. FirstEnergy had a net margin of 10.85% and a return on equity of 17.17%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.69 earnings per share. On average, analysts anticipate that FirstEnergy Corp. will post 2.41 EPS for the current fiscal year.
FirstEnergy Company Profile (Get Rating)
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, natural gas, wind, and solar power generating facilities.
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