Proficio Capital Partners LLC Acquires Shares of 77,530 FirstEnergy Corp. (NYSE:FE)

Proficio Capital Partners LLC acquired a new stake in FirstEnergy Corp. (NYSE:FE – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 77,530 shares of the utilities provider’s stock, valued at approximately $78,000.

Other hedge funds also recently added to or reduced their stakes in the company. GW&K Investment Management LLC raised its position in FirstEnergy by 159.2% in the fourth quarter. GW&K Investment Management LLC now owns 635 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 390 shares during the period. Clear Street Markets LLC increased its position in shares of FirstEnergy by 549.0% during the fourth quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 549 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of FirstEnergy during the fourth quarter worth about $27,000. CI Investments Inc. increased its position in shares of FirstEnergy by 940.0% during the third quarter. CI Investments Inc. now owns 728 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 658 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of FirstEnergy during the first quarter worth about $30,000. 85.35% of the stock is owned by hedge funds and other institutional investors.

Get FirstEnergy alerts:

FirstEnergy Stock Performance

Shares of FE stock opened at $39.02 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.68 and a debt-to-equity ratio of 2.06. The business has a 50 day moving average of $38.67 and a two-hundred day moving average of $39.99. FirstEnergy Corp. has a 52 week low of $35.60 and a 52 week high of $43.31. The company has a market cap of $22.35 billion, a P/E ratio of 54.96, a PEG ratio of 2.40 and a beta of 0.45.

FirstEnergy (NYSE:FE – Free Report) last issued its earnings results on Friday, April 28th. The utilities provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). FirstEnergy had a net margin of 3.23% and a return on equity of 12.60%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. As a group, analysts anticipate that FirstEnergy Corp. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FE. Bank of America lifted their target price on FirstEnergy from $38.00 to $39.00 and gave the stock an “underperform” rating in a research report on Friday, April 14th. Mizuho dropped their target price on FirstEnergy from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 28th. StockNews.com initiated coverage on FirstEnergy in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on FirstEnergy from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Finally, JPMorgan Chase & Co. decreased their price target on FirstEnergy from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.00.

FirstEnergy Company Profile

(Free Report)

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.

See Also

• Five stocks we like better than FirstEnergy
• Tesla Production Cranks Into High Gear, Shares Follow 
• Ford Soars 30% YTD After Breaking Out: What’s Next?
• Acuity Brands Lights Up Opportunity In The Industrial Sector 
• Overstock Looks Beyond Overbought After Bed Bath Re-Brand
• Tecnoglass Shines Bright As Analysts Bullish On Growth Potential

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE – Free Report).

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.