Edgestream Partners L.P. Raises Holdings in FirstEnergy Corp. (NYSE:FE)

Edgestream Partners L.P. raised its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 95.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,218 shares of the utilities provider’s stock after purchasing an additional 22,527 shares during the period. Edgestream Partners L.P.’s holdings in FirstEnergy were worth $1,785,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FE. Sachetta LLC purchased a new stake in FirstEnergy during the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC boosted its stake in shares of FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after buying an additional 610 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of FirstEnergy in the 4th quarter worth $31,000. Blue Trust Inc. boosted its stake in shares of FirstEnergy by 327.3% in the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $35,000 after buying an additional 792 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of FirstEnergy in the 4th quarter worth $40,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

NYSE:FE traded up $0.21 on Monday, reaching $39.80. 1,380,872 shares of the company’s stock traded hands, compared to its average volume of 2,972,326. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The stock has a 50-day simple moving average of $39.05 and a 200-day simple moving average of $38.21. The firm has a market cap of $22.91 billion, a PE ratio of 22.83, a P/E/G ratio of 2.51 and a beta of 0.49. FirstEnergy Corp. has a 12 month low of $32.18 and a 12 month high of $40.65.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.36 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. Equities research analysts forecast that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on FirstEnergy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target on the stock. Bank of America raised their price target on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Barclays raised their target price on FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Morgan Stanley decreased their target price on FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Finally, StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.55.

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.