Hennion & Walsh Asset Management Inc. Lowers Position in FirstEnergy Corp. (NYSE:FE)

Hennion & Walsh Asset Management Inc. cut its stake in FirstEnergy Corp. (NYSE:FE) by 8.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,813 shares of the utilities provider’s stock after selling 3,562 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in FirstEnergy were worth $1,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors lifted its holdings in FirstEnergy by 38.2% in the fourth quarter. Capital World Investors now owns 68,155,129 shares of the utilities provider’s stock worth $2,498,567,000 after buying an additional 18,853,983 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in FirstEnergy by 3.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,848,344 shares of the utilities provider’s stock worth $324,380,000 after buying an additional 272,478 shares during the period. Royal Bank of Canada lifted its holdings in shares of FirstEnergy by 1.2% during the third quarter. Royal Bank of Canada now owns 3,828,791 shares of the utilities provider’s stock valued at $130,867,000 after purchasing an additional 44,031 shares during the last quarter. First Pacific Advisors LP lifted its holdings in shares of FirstEnergy by 1.3% during the fourth quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock valued at $127,623,000 after purchasing an additional 45,350 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of FirstEnergy by 20.6% during the fourth quarter. 1832 Asset Management L.P. now owns 3,454,376 shares of the utilities provider’s stock valued at $126,637,000 after purchasing an additional 590,815 shares during the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Trading Down 0.7 %

NYSE:FE opened at $38.27 on Monday. 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 Corp. has a 12 month low of $32.18 and a 12 month high of $40.65. The company has a market cap of $22.03 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.42 and a beta of 0.50. The company has a 50 day simple moving average of $39.04 and a two-hundred day simple moving average of $37.98.

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. 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 the consensus estimate of $3.36 billion. Research analysts forecast that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FE shares. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Scotiabank lowered their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Mizuho lifted their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. The Goldman Sachs Group assumed coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price for the company. Finally, Morgan Stanley decreased their price objective on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.09.

FirstEnergy Profile

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.