Cerebellum GP LLC Makes New $576,000 Investment in FirstEnergy Corp. (NYSE:FE)

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Cerebellum GP LLC acquired a new position in FirstEnergy Corp. (NYSE:FE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,843 shares of the utilities provider’s stock, valued at approximately $576,000. FirstEnergy accounts for approximately 0.3% of Cerebellum GP LLC’s portfolio, making the stock its 14th biggest position.

Several other hedge funds have also recently made changes to their positions in FE. Nuveen Asset Management LLC lifted its position in shares of FirstEnergy by 2,004.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 14,658,518 shares of the utilities provider’s stock worth $627,531,000 after acquiring an additional 13,961,923 shares during the period. Boston Partners lifted its position 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 acquiring an additional 2,797,726 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of FirstEnergy by 7.6% in the 3rd 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 during the period. Millennium Management LLC lifted its position in shares of FirstEnergy by 235.3% in the 3rd 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 during the period. Finally, State Street Corp lifted its position in shares of FirstEnergy by 2.6% in the 3rd 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 during the period. Institutional investors own 88.86% of the company’s stock.

FirstEnergy stock opened at $48.45 on Thursday. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.62 and a quick ratio of 0.56. The company has a market capitalization of $25.96 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.23 and a beta of 0.19. FirstEnergy Corp. has a one year low of $37.73 and a one year high of $49.07. The business has a 50 day simple moving average of $48.09 and a 200 day simple moving average of $46.56.

FirstEnergy (NYSE:FE) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.91 billion. FirstEnergy had a return on equity of 19.21% and a net margin of 10.49%. FirstEnergy’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. Equities analysts anticipate that FirstEnergy Corp. will post 2.52 earnings per share for the current fiscal year.

Several equities analysts recently commented on FE shares. UBS Group restated a “buy” rating and set a $53.00 target price (up previously from $52.00) on shares of FirstEnergy in a research report on Monday, November 25th. ValuEngine downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded FirstEnergy from a “hold” rating to a “sell” rating and set a $51.00 target price for the company. in a research report on Wednesday. Citigroup set a $49.00 target price on FirstEnergy and gave the stock a “hold” rating in a research report on Thursday, October 10th. Finally, Bank of America downgraded FirstEnergy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. FirstEnergy currently has a consensus rating of “Hold” and a consensus price target of $50.63.

FirstEnergy 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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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