Tocqueville Asset Management L.P. Has $5.68 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Tocqueville Asset Management L.P. lowered its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 0.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,826 shares of the utilities provider’s stock after selling 671 shares during the period. Tocqueville Asset Management L.P.’s holdings in FirstEnergy were worth $5,682,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC bought a new position in shares of FirstEnergy in the third quarter worth about $205,000. KBC Group NV boosted its position in FirstEnergy by 33.3% in the third quarter. KBC Group NV now owns 40,331 shares of the utilities provider’s stock valued at $1,789,000 after buying an additional 10,073 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of FirstEnergy by 7.5% during the third quarter. CIBC Asset Management Inc now owns 76,488 shares of the utilities provider’s stock worth $3,392,000 after buying an additional 5,306 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of FirstEnergy by 10.3% during the third quarter. Empowered Funds LLC now owns 9,421 shares of the utilities provider’s stock worth $418,000 after buying an additional 881 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of FirstEnergy by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,622,544 shares of the utilities provider’s stock valued at $71,960,000 after acquiring an additional 5,500 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Stock Performance

FE stock opened at $39.90 on Wednesday. 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 stock has a 50-day moving average price of $39.93 and a 200-day moving average price of $41.40. The firm has a market cap of $23.01 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

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

Analyst Ratings Changes

A number of brokerages have issued reports on FE. Morgan Stanley lowered their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company lowered their price objective 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. Guggenheim reduced their target price on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Finally, KeyCorp reduced their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and a consensus 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.