John G Ullman & Associates Inc. Purchases New Holdings in FirstEnergy Corp. (NYSE:FE)

John G Ullman & Associates Inc. purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) during the 1st quarter, Holdings Channel.com reports. The fund purchased 5,900 shares of the utilities provider’s stock, valued at approximately $228,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Glenmede Trust Co. NA lifted its position in shares of FirstEnergy by 32.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,640 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 2,370 shares during the period. Sei Investments Co. increased its stake in shares of FirstEnergy by 5.7% in the third quarter. Sei Investments Co. now owns 403,750 shares of the utilities provider’s stock worth $13,800,000 after acquiring an additional 21,945 shares during the period. Schroder Investment Management Group increased its stake in shares of FirstEnergy by 8.0% in the third quarter. Schroder Investment Management Group now owns 307,783 shares of the utilities provider’s stock worth $10,520,000 after acquiring an additional 22,823 shares during the period. Comerica Bank increased its stake in shares of FirstEnergy by 11,260.9% in the third quarter. Comerica Bank now owns 137,581 shares of the utilities provider’s stock worth $4,703,000 after acquiring an additional 136,370 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of FirstEnergy by 3.5% in the third quarter. Public Sector Pension Investment Board now owns 123,753 shares of the utilities provider’s stock worth $4,230,000 after acquiring an additional 4,166 shares during the period. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Down 0.0 %

Shares of FE traded down $0.01 during trading on Friday, reaching $39.46. 151,300 shares of the company traded hands, compared to its average volume of 2,987,863. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $40.65. The stock has a market cap of $22.71 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The stock has a 50-day simple moving average of $39.07 and a 200-day simple moving average of $38.08. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.36 billion. On average, analysts anticipate that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FE shares. Mizuho increased their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. The Goldman Sachs Group started coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price on the stock. Morgan Stanley decreased their price target on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Bank of America raised their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Finally, Barclays raised their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.55.

About FirstEnergy

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.