NBC Securities Inc. Purchases 1,000 Shares of FirstEnergy Corp. (NYSE:FE)

NBC Securities Inc. increased its position in FirstEnergy Corp. (NYSE:FE) by 116.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,860 shares of the utilities provider’s stock after acquiring an additional 1,000 shares during the quarter. NBC Securities Inc.’s holdings in FirstEnergy were worth $71,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of FirstEnergy by 9.3% in the fourth quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 318 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in FirstEnergy by 1.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock valued at $977,000 after purchasing an additional 339 shares during the period. Daymark Wealth Partners LLC grew its position in FirstEnergy by 0.5% in the 4th quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock worth $2,641,000 after purchasing an additional 341 shares during the last quarter. Twelve Points Wealth Management LLC increased its holdings in shares of FirstEnergy by 5.0% during the 4th quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock worth $278,000 after purchasing an additional 361 shares during the period. Finally, CWA Asset Management Group LLC raised its position in shares of FirstEnergy by 2.2% during the third quarter. CWA Asset Management Group LLC now owns 16,706 shares of the utilities provider’s stock valued at $571,000 after buying an additional 363 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

NYSE FE opened at $38.50 on Tuesday. The firm has a market cap of $22.16 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.42 and a beta of 0.50. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. FirstEnergy Corp. has a 1-year low of $32.18 and a 1-year high of $40.65. The company has a 50 day moving average of $38.97 and a 200-day moving average of $37.95.

FirstEnergy (NYSE:FE) last released 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. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.36 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. On average, equities analysts forecast that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FE. Bank of America boosted their price target on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. Scotiabank cut their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. 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. Mizuho increased their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. Finally, StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.09.

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.