Investors Buy Shares of FirstEnergy (FE) on Weakness

Investors purchased shares of FirstEnergy Corp. (NYSE:FE) on weakness during trading hours on Monday. $24.70 million flowed into the stock on the tick-up and $12.52 million flowed out of the stock on the tick-down, for a money net flow of $12.18 million into the stock. Of all equities tracked, FirstEnergy had the 33rd highest net in-flow for the day. FirstEnergy traded down ($0.11) for the day and closed at $30.48

A number of equities research analysts have recently commented on the stock. Bank of America assumed coverage on shares of FirstEnergy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 target price for the company. Zacks Investment Research cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Morgan Stanley upped their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Finally, Citigroup upped their target price on shares of FirstEnergy from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $34.39.

The stock has a market cap of $13,510.00, a price-to-earnings ratio of -2.59 and a beta of 0.25. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.11. FirstEnergy had a negative net margin of 35.99% and a positive return on equity of 19.29%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company posted $0.90 earnings per share. equities research analysts anticipate that FirstEnergy Corp. will post 3 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of FE. Parametric Portfolio Associates LLC boosted its position in FirstEnergy by 8.0% during the third quarter. Parametric Portfolio Associates LLC now owns 2,141,098 shares of the utilities provider’s stock worth $66,010,000 after acquiring an additional 157,963 shares during the last quarter. AXA boosted its position in FirstEnergy by 7,554.9% during the third quarter. AXA now owns 1,030,430 shares of the utilities provider’s stock worth $31,768,000 after acquiring an additional 1,016,969 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in FirstEnergy during the third quarter worth approximately $1,361,000. Gyroscope Capital Management Group LLC boosted its position in FirstEnergy by 4.0% during the third quarter. Gyroscope Capital Management Group LLC now owns 189,154 shares of the utilities provider’s stock worth $5,832,000 after acquiring an additional 7,305 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in FirstEnergy by 4.3% during the third quarter. California Public Employees Retirement System now owns 1,413,764 shares of the utilities provider’s stock worth $43,586,000 after acquiring an additional 58,827 shares during the last quarter. Institutional investors own 82.32% of the company’s stock.

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About FirstEnergy

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

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