Menta Capital LLC Acquires New Stake in FirstEnergy Corp. (FE)

Menta Capital LLC acquired a new position in FirstEnergy Corp. (NYSE:FE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,033 shares of the utilities provider’s stock, valued at approximately $489,000.

Several other hedge funds have also modified their holdings of FE. Investors Research Corp increased its stake in FirstEnergy by 1.2% in the fourth quarter. Investors Research Corp now owns 25,016 shares of the utilities provider’s stock valued at $939,000 after acquiring an additional 300 shares during the last quarter. Sun Life Financial INC increased its stake in FirstEnergy by 1.0% in the fourth quarter. Sun Life Financial INC now owns 37,593 shares of the utilities provider’s stock valued at $1,412,000 after acquiring an additional 368 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in FirstEnergy by 0.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 122,914 shares of the utilities provider’s stock valued at $4,512,000 after acquiring an additional 368 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in FirstEnergy by 3.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,153 shares of the utilities provider’s stock valued at $531,000 after acquiring an additional 428 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in FirstEnergy by 11.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,040 shares of the utilities provider’s stock valued at $227,000 after acquiring an additional 639 shares during the last quarter. Institutional investors own 94.49% of the company’s stock.

Shares of NYSE:FE opened at $41.23 on Friday. FirstEnergy Corp. has a 12-month low of $32.92 and a 12-month high of $41.78. The stock has a market cap of $21.86 billion, a PE ratio of 15.92 and a beta of 0.30. The company has a current ratio of 0.52, a quick ratio of 0.46 and a debt-to-equity ratio of 2.63.

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 Zacks’ consensus estimate of $0.47 by $0.03. FirstEnergy had a return on equity of 21.13% and a net margin of 10.41%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the firm earned $0.71 earnings per share. As a group, analysts anticipate that FirstEnergy Corp. will post 2.56 EPS for the current year.

A number of research analysts recently commented on FE shares. Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Morgan Stanley raised their price objective on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Finally, Barclays raised their price objective on FirstEnergy from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.14.

In related news, EVP Leila L. Vespoli sold 24,400 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $41.33, for a total value of $1,008,452.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James F. Pearson sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $37.87, for a total value of $1,514,800.00. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

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FirstEnergy Company Profile

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.

Further Reading: Technical Analysis

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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