Rise Advisors LLC Boosts Holdings in FirstEnergy Corp. (NYSE:FE)

Rise Advisors LLC lifted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 36.3% in the first quarter, Holdings Channel reports. The firm owned 1,358 shares of the utilities provider’s stock after buying an additional 362 shares during the period. Rise Advisors LLC’s holdings in FirstEnergy were worth $52,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Allworth Financial LP increased its stake in FirstEnergy by 9.3% during the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock worth $137,000 after buying an additional 318 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of FirstEnergy by 1.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock worth $977,000 after purchasing an additional 339 shares in the last quarter. Daymark Wealth Partners LLC raised its stake in FirstEnergy by 0.5% in the 4th quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock valued at $2,641,000 after purchasing an additional 341 shares during the last quarter. Twelve Points Wealth Management LLC lifted its holdings in FirstEnergy by 5.0% in the 4th quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 361 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in FirstEnergy by 2.2% during the 3rd quarter. CWA Asset Management Group LLC now owns 16,706 shares of the utilities provider’s stock worth $571,000 after purchasing an additional 363 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.2 %

Shares of NYSE:FE opened at $38.23 on Friday. The company has a market capitalization of $22.00 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 2.42 and a beta of 0.50. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $40.65. The business has a 50-day moving average price of $38.93 and a 200 day moving average price of $37.93. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on FE. Bank of America raised their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Morgan Stanley boosted their target price on FirstEnergy from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Scotiabank cut their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Finally, 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. One equities 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’s stock. According to data from MarketBeat, FirstEnergy currently has an average rating of “Hold” and a consensus target price 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.