FirstEnergy Corp. (FE) Holdings Decreased by Crow Point Partners LLC
Crow Point Partners LLC lowered its holdings in FirstEnergy Corp. (NYSE:FE) by 33.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the utilities provider’s stock after selling 100,000 shares during the period. FirstEnergy makes up 1.0% of Crow Point Partners LLC’s investment portfolio, making the stock its 25th largest position. Crow Point Partners LLC’s holdings in FirstEnergy were worth $6,090,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Sandy Spring Bank increased its position in shares of FirstEnergy by 1.3% during the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 66 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of FirstEnergy by 32.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,755 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 1,394 shares during the last quarter. Accurate Investment Solutions Inc. increased its position in shares of FirstEnergy by 767.8% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock valued at $170,000 after purchasing an additional 4,860 shares during the last quarter. Tiedemann Wealth Management LLC increased its position in shares of FirstEnergy by 170.5% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 22,408 shares of the utilities provider’s stock valued at $171,000 after purchasing an additional 14,123 shares during the last quarter. Finally, IBM Retirement Fund bought a new position in shares of FirstEnergy during the 3rd quarter valued at about $204,000. 82.32% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. Bank of America assumed coverage on FirstEnergy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $34.00 price target on the stock. Zacks Investment Research lowered FirstEnergy from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Guggenheim restated a “buy” rating and set a $47.00 price target on shares of FirstEnergy in a research report on Wednesday, January 3rd. Finally, Citigroup raised their price target on FirstEnergy from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. FirstEnergy currently has an average rating of “Hold” and a consensus price target of $35.32.
FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.11. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.72 billion. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same period last year, the company earned $0.90 EPS. research analysts forecast that FirstEnergy Corp. will post 3 EPS for the current fiscal year.
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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