Penserra Capital Management LLC Increases Holdings in FirstEnergy Corp. (FE)

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Penserra Capital Management LLC raised its stake in shares of FirstEnergy Corp. (NYSE:FE) by 118.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,890 shares of the utilities provider’s stock after buying an additional 1,566 shares during the period. Penserra Capital Management LLC’s holdings in FirstEnergy were worth $108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in FirstEnergy by 8.2% in the 2nd quarter. FMR LLC now owns 9,285,489 shares of the utilities provider’s stock valued at $333,442,000 after acquiring an additional 703,852 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in FirstEnergy by 71.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 70,526 shares of the utilities provider’s stock valued at $2,621,000 after buying an additional 29,290 shares during the last quarter. BB&T Corp purchased a new stake in FirstEnergy during the 3rd quarter valued at $208,000. Aperio Group LLC raised its stake in FirstEnergy by 3.1% during the 3rd quarter. Aperio Group LLC now owns 162,090 shares of the utilities provider’s stock valued at $6,025,000 after buying an additional 4,798 shares during the last quarter. Finally, Strs Ohio raised its stake in FirstEnergy by 3.1% during the 3rd quarter. Strs Ohio now owns 127,615 shares of the utilities provider’s stock valued at $4,743,000 after buying an additional 3,795 shares during the last quarter. Institutional investors and hedge funds own 93.43% of the company’s stock.

A number of equities research analysts have issued reports on FE shares. Morgan Stanley set a $38.00 price target on FirstEnergy and gave the stock a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Bank of America increased their price objective on shares of FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 29th. Finally, Barclays increased their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the company a “hold” rating in a report on Monday, November 19th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $40.71.

FE opened at $39.59 on Thursday. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 2.58 and a beta of 0.27. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41. FirstEnergy Corp. has a fifty-two week low of $31.29 and a fifty-two week high of $39.88.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. FirstEnergy had a net margin of 10.41% and a return on equity of 20.80%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, equities analysts anticipate that FirstEnergy Corp. will post 2.55 EPS for the current year.

In other FirstEnergy news, EVP James F. Pearson sold 40,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $37.87, for a total value of $1,514,800.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is owned by corporate insiders.

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FirstEnergy Profile

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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