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Wellington Management Group LLP Cuts Stake in FirstEnergy Corp. (NYSE:FE)

FirstEnergy logo with Utilities background

Wellington Management Group LLP cut its position in FirstEnergy Corp. (NYSE:FE - Free Report) by 52.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,290,735 shares of the utilities provider's stock after selling 1,416,584 shares during the period. Wellington Management Group LLP owned 0.22% of FirstEnergy worth $47,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC lifted its position in shares of FirstEnergy by 1.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider's stock worth $1,358,000 after purchasing an additional 376 shares in the last quarter. Duality Advisers LP bought a new stake in shares of FirstEnergy during the fourth quarter worth approximately $1,644,000. Citigroup Inc. raised its stake in shares of FirstEnergy by 27.3% during the third quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider's stock worth $34,810,000 after buying an additional 218,439 shares during the last quarter. Lumbard & Kellner LLC bought a new stake in shares of FirstEnergy during the fourth quarter worth approximately $2,418,000. Finally, First Pacific Advisors LP raised its stake in shares of FirstEnergy by 1.3% during the fourth quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider's stock worth $127,623,000 after buying an additional 45,350 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.


Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of FirstEnergy from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They set a "buy" rating and a $45.00 price target for the company. Bank of America upped their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the company an "underperform" rating in a research note on Tuesday, April 23rd. Scotiabank lowered their target price on shares of FirstEnergy from $41.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com raised shares of FirstEnergy from a "sell" rating to a "hold" rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $40.09.

Get Our Latest Report on FE

FirstEnergy Stock Up 0.6 %

Shares of FirstEnergy stock traded up $0.23 on Monday, hitting $38.50. The company had a trading volume of 3,158,889 shares, compared to its average volume of 3,062,209. The firm has a market capitalization of $22.16 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.42 and a beta of 0.50. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $40.65. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56. The stock has a 50-day moving average of $38.97 and a 200-day moving average of $37.95.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. Research analysts predict that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

About FirstEnergy

(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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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