CWA Asset Management Group LLC increased its position in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) by 18.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,016 shares of the utilities provider’s stock after purchasing an additional 2,202 shares during the quarter. CWA Asset Management Group LLC’s holdings in FirstEnergy were worth $588,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in FirstEnergy by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,648,832 shares of the utilities provider’s stock valued at $75,615,000 after buying an additional 86,132 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of FirstEnergy by 10.1% during the first quarter. Vontobel Holding Ltd. now owns 10,066 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 923 shares during the period. Blair William & Co. IL increased its holdings in shares of FirstEnergy by 26.5% during the first quarter. Blair William & Co. IL now owns 9,044 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 1,892 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of FirstEnergy by 51.0% during the first quarter. Allianz Asset Management GmbH now owns 618,302 shares of the utilities provider’s stock valued at $28,355,000 after purchasing an additional 208,803 shares during the period. Finally, Prudential PLC acquired a new position in shares of FirstEnergy during the first quarter valued at $577,000. 81.80% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on FE. Mizuho lowered their price target on FirstEnergy from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, February 6th. StockNews.com assumed coverage on FirstEnergy in a report on Thursday. They set a “hold” rating on the stock. JPMorgan Chase & Co. lowered their target price on FirstEnergy from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, March 10th. Bank of America lowered FirstEnergy from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $41.00 to $38.00 in a report on Monday, January 23rd. Finally, Guggenheim raised FirstEnergy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $46.00 in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, FirstEnergy presently has an average rating of “Hold” and a consensus price target of $43.89.
FirstEnergy Trading Down 0.9 %
FirstEnergy (NYSE:FE – Get Rating) last announced its quarterly earnings data on Monday, February 13th. The utilities provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.45 billion. FirstEnergy had a return on equity of 13.16% and a net margin of 3.26%. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, analysts predict that FirstEnergy Corp. will post 2.53 earnings per share for the current fiscal year.
FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate or Other.
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