Beese Fulmer Investment Management Inc. Sells 900 Shares of FirstEnergy Corp. (NYSE:FE)

Beese Fulmer Investment Management Inc. decreased its position in FirstEnergy Corp. (NYSE:FE) by 9.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,011 shares of the utilities provider’s stock after selling 900 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in FirstEnergy were worth $348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of FirstEnergy by 9.3% in the fourth quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 318 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in FirstEnergy by 1.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock valued at $977,000 after acquiring an additional 339 shares in the last quarter. Daymark Wealth Partners LLC boosted its holdings in FirstEnergy by 0.5% in the fourth quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock valued at $2,641,000 after acquiring an additional 341 shares in the last quarter. Twelve Points Wealth Management LLC boosted its holdings in FirstEnergy by 5.0% in the fourth quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock valued at $278,000 after acquiring an additional 361 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in FirstEnergy by 2.2% in the third quarter. CWA Asset Management Group LLC now owns 16,706 shares of the utilities provider’s stock valued at $571,000 after acquiring an additional 363 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

FE opened at $38.17 on Thursday. The stock has a 50-day moving average price of $38.92 and a 200-day moving average price of $37.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56. The firm has a market cap of $21.97 billion, a PE ratio of 21.94, a P/E/G ratio of 2.42 and a beta of 0.50. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $40.65.

FirstEnergy (NYSE:FE) last posted 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 firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. Sell-side analysts predict that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on FE shares. Morgan Stanley lifted their price target on shares of FirstEnergy from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. The Goldman Sachs Group started coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target on the stock. Mizuho lifted their price target on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Bank of America raised their price objective on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research report on Tuesday, April 23rd. 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 stock. Based on data from MarketBeat.com, FirstEnergy presently has an average rating of “Hold” and a consensus price target of $40.27.

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.