Skandinaviska Enskilda Banken AB publ decreased its position in shares of FirstEnergy Corp. (NYSE:FE) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,955 shares of the utilities provider’s stock after selling 5,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in FirstEnergy were worth $2,402,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Optimal Asset Management Inc. grew its position in shares of FirstEnergy by 176.2% during the 1st quarter. Optimal Asset Management Inc. now owns 141,481 shares of the utilities provider’s stock valued at $5,669,000 after acquiring an additional 90,258 shares during the period. National Pension Service grew its holdings in FirstEnergy by 1.5% in the first quarter. National Pension Service now owns 752,762 shares of the utilities provider’s stock valued at $30,163,000 after purchasing an additional 11,137 shares during the period. 1832 Asset Management L.P. increased its position in shares of FirstEnergy by 3.2% in the first quarter. 1832 Asset Management L.P. now owns 73,916 shares of the utilities provider’s stock valued at $2,960,000 after buying an additional 2,265 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of FirstEnergy by 16.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,245,883 shares of the utilities provider’s stock worth $49,923,000 after buying an additional 178,885 shares during the period. Finally, FDx Advisors Inc. lifted its position in shares of FirstEnergy by 164.7% during the 1st quarter. FDx Advisors Inc. now owns 11,271 shares of the utilities provider’s stock valued at $43,000 after buying an additional 7,013 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

FE opened at $37.99 on Tuesday. FirstEnergy Corp. has a 52 week low of $32.00 and a 52 week high of $52.51. The company has a quick ratio of 0.46, a current ratio of 0.54 and a debt-to-equity ratio of 3.06. The business has a fifty day simple moving average of $40.61 and a 200-day simple moving average of $44.54. The firm has a market cap of $19.96 billion, a P/E ratio of 30.39 and a beta of 0.46.

FirstEnergy (NYSE:FE) last announced its earnings results on Thursday, April 23rd. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.87 billion. FirstEnergy had a return on equity of 19.57% and a net margin of 6.13%. FirstEnergy’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. Sell-side analysts expect that FirstEnergy Corp. will post 2.49 earnings per share for the current year.

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Seaport Global Securities started coverage on shares of FirstEnergy in a research report on Wednesday, May 20th. They set a “buy” rating and a $47.00 price target for the company. Barclays lowered their price objective on FirstEnergy from $54.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Bank of America upgraded FirstEnergy from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, March 10th. Finally, TheStreet upgraded FirstEnergy from a “f” rating to a “c” rating in a research report on Tuesday, May 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $48.17.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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