FirstEnergy Corp. (NYSE:FE) Shares Sold by Cullinan Associates Inc.

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Cullinan Associates Inc. trimmed its position in shares of FirstEnergy Corp. (NYSE:FE) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,283 shares of the utilities provider’s stock after selling 2,917 shares during the period. Cullinan Associates Inc.’s holdings in FirstEnergy were worth $257,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FE. Nuveen Asset Management LLC raised its position in shares of FirstEnergy by 2,004.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 14,658,518 shares of the utilities provider’s stock worth $627,531,000 after buying an additional 13,961,923 shares in the last quarter. Boston Partners raised its position in shares of FirstEnergy by 9,910.1% during the 3rd quarter. Boston Partners now owns 2,825,957 shares of the utilities provider’s stock worth $136,297,000 after buying an additional 2,797,726 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of FirstEnergy by 7.6% during 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 buying an additional 2,120,802 shares in the last quarter. Millennium Management LLC raised its position in shares of FirstEnergy by 235.3% during the 3rd quarter. Millennium Management LLC now owns 2,117,379 shares of the utilities provider’s stock worth $102,121,000 after buying an additional 1,485,911 shares in the last quarter. Finally, State Street Corp raised its position in shares of FirstEnergy by 2.6% during the 3rd quarter. State Street Corp now owns 37,834,841 shares of the utilities provider’s stock worth $1,824,774,000 after buying an additional 970,653 shares in the last quarter. Institutional investors own 88.86% of the company’s stock.

NYSE FE 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’s 50 day simple moving average is $48.09 and its 200 day simple moving average is $46.56. FirstEnergy Corp. has a 12 month low of $37.73 and a 12 month high of $49.07. The company has a market capitalization of $25.96 billion, a P/E ratio of 18.71, a PEG ratio of 3.23 and a beta of 0.19.

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

A number of analysts have commented on the stock. Mizuho upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $53.00 in a research report on Monday, November 25th. Zacks Investment Research downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $51.00 price target on the stock. in a research report on Wednesday. KeyCorp boosted their price target on shares of FirstEnergy from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. ValuEngine downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup set a $49.00 price target on shares of FirstEnergy and gave the stock a “hold” rating in a research report on Thursday, October 10th. 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 an average price target of $50.63.

About FirstEnergy

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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