Scarborough Advisors LLC Takes $31,000 Position in FirstEnergy Corp. (NYSE:FE)

Scarborough Advisors LLC acquired a new stake in FirstEnergy Corp. (NYSE:FE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 840 shares of the utilities provider’s stock, valued at approximately $31,000.

A number of other large investors have also recently made changes to their positions in FE. Capital World Investors lifted its position in FirstEnergy by 38.2% during the 4th quarter. Capital World Investors now owns 68,155,129 shares of the utilities provider’s stock worth $2,498,567,000 after acquiring an additional 18,853,983 shares during the period. FMR LLC lifted its position in FirstEnergy by 31.1% during the 3rd quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock worth $540,996,000 after acquiring an additional 3,756,228 shares during the period. Allspring Global Investments Holdings LLC lifted its position in FirstEnergy by 3.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,848,344 shares of the utilities provider’s stock worth $324,380,000 after acquiring an additional 272,478 shares during the period. Royal Bank of Canada lifted its position in FirstEnergy by 1.2% during the 3rd quarter. Royal Bank of Canada now owns 3,828,791 shares of the utilities provider’s stock worth $130,867,000 after acquiring an additional 44,031 shares during the period. Finally, First Pacific Advisors LP lifted its position in FirstEnergy by 1.3% during the 4th quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock worth $127,623,000 after acquiring an additional 45,350 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.2 %

Shares of FirstEnergy stock opened at $38.17 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The firm has a market cap of $21.97 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.46 and a beta of 0.50. FirstEnergy Corp. has a fifty-two week low of $32.18 and a fifty-two week high of $40.65. The business has a 50-day moving average price of $38.91 and a 200 day moving average price of $37.92.

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

Analysts Set New Price Targets

A number of research firms have weighed in on FE. Bank of America increased their price objective on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 23rd. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Mizuho raised their price target on FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. Scotiabank reduced their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Morgan Stanley raised their price target on FirstEnergy from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.27.

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.