Tocqueville Asset Management L.P. Has $5.68 Million Stock Position in FirstEnergy Corp. (NYSE:FE)

Tocqueville Asset Management L.P. lessened its position in FirstEnergy Corp. (NYSE:FE) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 142,826 shares of the utilities provider’s stock after selling 671 shares during the period. Tocqueville Asset Management L.P.’s holdings in FirstEnergy were worth $5,682,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of FE. Signaturefd LLC lifted its holdings in shares of FirstEnergy by 34.0% in the 4th quarter. Signaturefd LLC now owns 4,888 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 1,239 shares in the last quarter. Cibc World Markets Corp lifted its stake in shares of FirstEnergy by 12.9% in the fourth quarter. Cibc World Markets Corp now owns 82,504 shares of the utilities provider’s stock valued at $3,282,000 after buying an additional 9,450 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of FirstEnergy by 10.1% during the fourth quarter. Corient Private Wealth LLC now owns 42,774 shares of the utilities provider’s stock valued at $1,702,000 after buying an additional 3,932 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of FirstEnergy by 17.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider’s stock valued at $211,000 after buying an additional 797 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of FirstEnergy by 1.3% in the 4th quarter. Natixis Advisors LLC now owns 133,695 shares of the utilities provider’s stock worth $5,318,000 after acquiring an additional 1,754 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Guggenheim decreased their price target on FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company lowered their price target on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Morgan Stanley cut their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, KeyCorp lowered their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus price target of $45.33.

FirstEnergy Stock Up 0.2 %

FE opened at $39.90 on Wednesday. FirstEnergy Corp. has a twelve month low of $36.81 and a twelve month high of $44.97. The company’s 50-day moving average price is $39.93 and its two-hundred day moving average price is $41.40. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, equities analysts expect that FirstEnergy Corp. will post 2.66 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.