Tiaa Fsb decreased its position in FirstEnergy Corp. (NYSE:FE – Free Report) by 14.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,244 shares of the utilities provider’s stock after selling 867 shares during the period. Tiaa Fsb’s holdings in FirstEnergy were worth $210,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in FirstEnergy by 7.0% in the first quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock valued at $3,128,322,000 after purchasing an additional 4,443,050 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in FirstEnergy by 41.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,698,278 shares of the utilities provider’s stock valued at $826,146,000 after purchasing an additional 5,820,540 shares during the last quarter. Boston Partners grew its holdings in FirstEnergy by 31.9% in the fourth quarter. Boston Partners now owns 11,608,710 shares of the utilities provider’s stock valued at $486,530,000 after purchasing an additional 2,807,818 shares during the last quarter. Geode Capital Management LLC grew its holdings in FirstEnergy by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 11,226,037 shares of the utilities provider’s stock valued at $469,974,000 after purchasing an additional 173,881 shares during the last quarter. Finally, Morgan Stanley grew its holdings in FirstEnergy by 2.4% in the fourth quarter. Morgan Stanley now owns 7,515,260 shares of the utilities provider’s stock valued at $315,190,000 after purchasing an additional 177,489 shares during the last quarter. Institutional investors and hedge funds own 85.35% of the company’s stock.
Analyst Ratings Changes
FE has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on FirstEnergy from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, March 10th. Mizuho decreased their price objective on FirstEnergy from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 28th. Morgan Stanley increased their price objective on FirstEnergy from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. Bank of America increased their price objective on FirstEnergy from $38.00 to $39.00 and gave the company an “underperform” rating in a research note on Friday, April 14th. Finally, StockNews.com assumed coverage on FirstEnergy in a research note on Thursday, May 18th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.00.
FirstEnergy Stock Performance
FirstEnergy (NYSE:FE – Free Report) last released its earnings results on Friday, April 28th. The utilities provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). FirstEnergy had a return on equity of 12.60% and a net margin of 3.23%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company posted $0.60 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts predict that FirstEnergy Corp. will post 2.51 earnings per share for the current year.
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.
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