Corient Capital Partners LLC Buys Shares of 6,695 FirstEnergy Corp. (NYSE:FE)

Corient Capital Partners LLC purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,695 shares of the utilities provider’s stock, valued at approximately $279,000.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of FirstEnergy by 0.6% in the fourth quarter. BlackRock Inc. now owns 59,070,063 shares of the utilities provider’s stock worth $2,218,080,000 after acquiring an additional 331,380 shares during the period. Vanguard Group Inc raised its position in shares of FirstEnergy by 4.4% in the third quarter. Vanguard Group Inc now owns 58,780,161 shares of the utilities provider’s stock worth $2,184,859,000 after acquiring an additional 2,480,578 shares during the period. FMR LLC raised its position in shares of FirstEnergy by 15.9% in the fourth quarter. FMR LLC now owns 10,979,972 shares of the utilities provider’s stock worth $412,298,000 after acquiring an additional 1,509,442 shares during the period. Geode Capital Management LLC increased its stake in shares of FirstEnergy by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 6,393,048 shares of the utilities provider’s stock worth $239,645,000 after purchasing an additional 382,694 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of FirstEnergy by 4.8% during the fourth quarter. Northern Trust Corp now owns 6,348,462 shares of the utilities provider’s stock worth $238,384,000 after purchasing an additional 292,118 shares in the last quarter. 93.74% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Christopher D. Pappas bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $41.14 per share, with a total value of $123,420.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

A number of analysts have recently commented on FE shares. Morgan Stanley set a $44.00 target price on shares of FirstEnergy and gave the stock a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $46.00 in a research note on Wednesday, March 20th. KeyCorp reissued an “overweight” rating and issued a $46.00 price target on shares of FirstEnergy in a research note on Wednesday, June 5th. Finally, Bank of America increased their price target on shares of FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.25.

FirstEnergy stock traded up $0.30 during mid-day trading on Friday, reaching $42.81. 6,589,400 shares of the company’s stock were exchanged, compared to its average volume of 4,387,335. FirstEnergy Corp. has a twelve month low of $34.30 and a twelve month high of $44.11. The stock’s fifty day simple moving average is $42.70. The company has a current ratio of 0.54, a quick ratio of 0.47 and a debt-to-equity ratio of 2.72. The firm has a market capitalization of $22.66 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.76 and a beta of 0.29.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.01). The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.88 billion. FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $0.67 earnings per share. Equities research analysts forecast that FirstEnergy Corp. will post 2.57 earnings per share for the current year.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

Featured Article: What defines an oversold asset?

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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.