FirstEnergy Corp. (NYSE:FE) Holdings Boosted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its holdings in FirstEnergy Corp. (NYSE:FE) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,107 shares of the utilities provider’s stock after purchasing an additional 406 shares during the period. EverSource Wealth Advisors LLC’s holdings in FirstEnergy were worth $84,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its stake in FirstEnergy by 6.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 33,944 shares of the utilities provider’s stock worth $1,350,000 after acquiring an additional 2,081 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of FirstEnergy by 5.4% in the 4th quarter. HighTower Advisors LLC now owns 154,920 shares of the utilities provider’s stock valued at $6,163,000 after purchasing an additional 7,938 shares during the period. Moors & Cabot Inc. lifted its position in shares of FirstEnergy by 4.9% in the fourth quarter. Moors & Cabot Inc. now owns 9,113 shares of the utilities provider’s stock worth $363,000 after purchasing an additional 425 shares in the last quarter. Morton Community Bank grew its position in FirstEnergy by 1.9% during the fourth quarter. Morton Community Bank now owns 90,386 shares of the utilities provider’s stock valued at $3,596,000 after purchasing an additional 1,660 shares in the last quarter. Finally, Independent Advisor Alliance grew its position in FirstEnergy by 13.2% during the fourth quarter. Independent Advisor Alliance now owns 22,613 shares of the utilities provider’s stock valued at $900,000 after purchasing an additional 2,632 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

NYSE:FE opened at $39.90 on Wednesday. The firm has a market capitalization of $23.01 billion, a PE ratio of 25.74, a PEG ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 1 year low of $36.81 and a 1 year high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The firm’s fifty day simple moving average is $39.93 and its 200 day simple moving average is $41.40.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. On average, sell-side analysts anticipate that FirstEnergy Corp. will post 2.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FE shares. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Scotiabank reduced their price objective on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research report on Friday, February 28th. Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company cut their price target on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, KeyCorp lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.33.

FirstEnergy Company 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.