Patriot Financial Group Insurance Agency LLC Lowers Stock Position in FirstEnergy Corp. (NYSE:FE)

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Patriot Financial Group Insurance Agency LLC reduced its stake in FirstEnergy Corp. (NYSE:FE) by 71.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,781 shares of the utilities provider’s stock after selling 6,965 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in FirstEnergy were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Boston Partners boosted its holdings in shares of FirstEnergy by 9,910.1% in the 3rd quarter. Boston Partners now owns 2,825,957 shares of the utilities provider’s stock worth $136,297,000 after purchasing an additional 2,797,726 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of FirstEnergy by 7.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 30,083,866 shares of the utilities provider’s stock worth $1,450,945,000 after acquiring an additional 2,120,802 shares in the last quarter. Millennium Management LLC raised its stake in shares of FirstEnergy by 235.3% during the third quarter. Millennium Management LLC now owns 2,117,379 shares of the utilities provider’s stock worth $102,121,000 after acquiring an additional 1,485,911 shares in the last quarter. State Street Corp raised its stake in shares of FirstEnergy by 2.6% during the third quarter. State Street Corp now owns 37,834,841 shares of the utilities provider’s stock worth $1,824,774,000 after acquiring an additional 970,653 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of FirstEnergy by 50.7% in the 3rd quarter. First Trust Advisors LP now owns 1,282,213 shares of the utilities provider’s stock worth $61,841,000 after acquiring an additional 431,300 shares during the last quarter. Institutional investors and hedge funds own 88.86% of the company’s stock.

Shares of FE opened at $50.36 on Friday. The stock has a market capitalization of $26.96 billion, a P/E ratio of 23.42, a PEG ratio of 3.35 and a beta of 0.19. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 2.67. The firm has a fifty day simple moving average of $48.32 and a two-hundred day simple moving average of $46.81. FirstEnergy Corp. has a twelve month low of $38.11 and a twelve month high of $50.37.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.91 billion. FirstEnergy had a net margin of 10.49% and a return on equity of 19.21%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 earnings per share. Sell-side analysts expect that FirstEnergy Corp. will post 2.52 EPS for the current fiscal year.

Several equities analysts recently commented on FE shares. KeyCorp reduced their target price on shares of FirstEnergy from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Citigroup lifted their target price on shares of FirstEnergy from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Mizuho upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and upped their price target for the company from $47.00 to $53.00 in a research report on Monday, November 25th. Finally, ValuEngine cut FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.50.

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.

Further Reading: Risk Tolerance

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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