FirstEnergy Corp. (FE) Shares Sold by Neuburgh Advisers LLC

Neuburgh Advisers LLC cut its stake in FirstEnergy Corp. (NYSE:FE) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,694 shares of the utilities provider’s stock after selling 2,794 shares during the period. Neuburgh Advisers LLC’s holdings in FirstEnergy were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FE. Whittier Trust Co. of Nevada Inc. bought a new stake in FirstEnergy during the fourth quarter worth $34,000. Patriot Financial Group Insurance Agency LLC raised its position in FirstEnergy by 98.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 666 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in FirstEnergy during the fourth quarter worth $52,000. Legacy Financial Advisors Inc. raised its position in FirstEnergy by 251.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,433 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 1,025 shares in the last quarter. Finally, Bremer Trust National Association bought a new stake in FirstEnergy during the fourth quarter worth $58,000. 94.49% of the stock is owned by institutional investors.

Shares of FE opened at $41.23 on Friday. The stock has a market capitalization of $21.86 billion, a PE ratio of 15.92 and a beta of 0.30. FirstEnergy Corp. has a fifty-two week low of $32.92 and a fifty-two week high of $41.78. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.46 and a current ratio of 0.52.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.67 billion. FirstEnergy had a net margin of 10.41% and a return on equity of 21.13%. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities research analysts anticipate that FirstEnergy Corp. will post 2.56 EPS for the current fiscal year.

In other news, EVP James F. Pearson sold 40,000 shares of the stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leila L. Vespoli sold 24,400 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $41.33, for a total transaction of $1,008,452.00. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on FE. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Monday, March 4th. Morgan Stanley increased their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.14.

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About FirstEnergy

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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