FirstEnergy Corp. (NYSE:FE) Shares Acquired by Norden Group LLC

Norden Group LLC boosted its position in FirstEnergy Corp. (NYSE:FE) by 2,741.7% in the first quarter, Holdings Channel.com reports. The firm owned 295,936 shares of the utilities provider’s stock after acquiring an additional 285,522 shares during the quarter. Norden Group LLC’s holdings in FirstEnergy were worth $11,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FE. Sachetta LLC purchased a new position in FirstEnergy in the 4th quarter valued at approximately $25,000. Sugarloaf Wealth Management LLC purchased a new position in shares of FirstEnergy in the fourth quarter valued at $29,000. Scarborough Advisors LLC purchased a new stake in shares of FirstEnergy in the 4th quarter worth about $31,000. Blue Trust Inc. increased its holdings in FirstEnergy by 327.3% during the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 792 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of FirstEnergy in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.5 %

Shares of FE opened at $38.44 on Thursday. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $40.65. The firm has a market capitalization of $22.12 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.42 and a beta of 0.49. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. The stock’s fifty day simple moving average is $39.05 and its 200 day simple moving average is $37.99.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company 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%. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

Analysts Set New Price Targets

FE has been the topic of several analyst reports. 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. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Mizuho lifted their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. Morgan Stanley reduced their price target on FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Scotiabank decreased their price objective on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.