Los Angeles Capital Management LLC Invests $866,000 in FirstEnergy Corp. (NYSE:FE)

Los Angeles Capital Management LLC acquired a new position in FirstEnergy Corp. (NYSE:FE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,435 shares of the utilities provider’s stock, valued at approximately $866,000.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. increased its holdings in FirstEnergy by 116.3% during the first quarter. NBC Securities Inc. now owns 1,860 shares of the utilities provider’s stock worth $71,000 after buying an additional 1,000 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in FirstEnergy during the fourth quarter worth $221,000. HighPoint Advisor Group LLC acquired a new position in FirstEnergy during the fourth quarter worth $428,000. PNC Financial Services Group Inc. increased its holdings in FirstEnergy by 20.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 95,378 shares of the utilities provider’s stock worth $3,497,000 after buying an additional 16,018 shares during the last quarter. Finally, Grayhawk Investment Strategies Inc. acquired a new position in FirstEnergy during the fourth quarter worth $143,000. Institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

FE has been the topic of several research reports. Mizuho upped their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. Bank of America upped their price objective on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Scotiabank decreased their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus price target of $40.09.

FirstEnergy Trading Up 0.6 %

FE opened at $38.50 on Tuesday. The stock has a market capitalization of $22.16 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.43 and a beta of 0.50. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $40.65. The company has a 50-day simple moving average of $38.97 and a 200 day simple moving average of $37.95.

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

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.