EverSource Wealth Advisors LLC Buys 406 Shares of FirstEnergy Corp. (NYSE:FE)

EverSource Wealth Advisors LLC grew its stake in FirstEnergy Corp. (NYSE:FE) by 23.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,107 shares of the utilities provider’s stock after buying an additional 406 shares during the period. EverSource Wealth Advisors LLC’s holdings in FirstEnergy were worth $84,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in FE. Kestra Investment Management LLC acquired a new position in shares of FirstEnergy in the fourth quarter valued at $26,000. True Wealth Design LLC raised its stake in shares of FirstEnergy by 4,571.4% in the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after buying an additional 640 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 586 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of FirstEnergy during the 4th quarter valued at about $33,000. Finally, Cedar Mountain Advisors LLC bought a new stake in FirstEnergy in the fourth quarter valued at about $34,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.2 %

Shares of FE opened at $39.90 on Wednesday. The firm has a market capitalization 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 debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The business’s fifty day moving average price is $39.93 and its two-hundred day moving average price is $41.40. FirstEnergy Corp. has a 52 week low of $36.81 and a 52 week high of $44.97.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. On average, analysts predict that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Scotiabank cut their price target on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research note 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 on the stock in a research report on Friday, February 28th. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Guggenheim reduced their target price on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.33.

FirstEnergy 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.