Fmr LLC decreased its position in FirstEnergy Corporation (NYSE:FE) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,298,871 shares of the utilities provider’s stock after selling 315,151 shares during the period. Fmr LLC’s holdings in FirstEnergy Corporation were worth $168,610,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FE. Sowell Financial Services LLC acquired a new position in shares of FirstEnergy Corporation during the fourth quarter worth about $105,000. Bessemer Group Inc. boosted its position in shares of FirstEnergy Corporation by 170.5% in the fourth quarter. Bessemer Group Inc. now owns 4,393 shares of the utilities provider’s stock worth $135,000 after buying an additional 2,769 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of FirstEnergy Corporation during the fourth quarter worth about $158,000. Sandy Spring Bank boosted its position in shares of FirstEnergy Corporation by 1.9% in the first quarter. Sandy Spring Bank now owns 5,075 shares of the utilities provider’s stock worth $161,000 after buying an additional 97 shares in the last quarter. Finally, Ledyard National Bank acquired a new position in shares of FirstEnergy Corporation during the first quarter worth about $174,000. 78.41% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for FirstEnergy Corporation (NYSE:FE)

FirstEnergy Corporation (FE) traded up 0.27% during mid-day trading on Tuesday, hitting $29.95. 548,911 shares of the stock traded hands. FirstEnergy Corporation has a 1-year low of $27.93 and a 1-year high of $36.60. The company’s 50 day moving average price is $29.03 and its 200-day moving average price is $30.45. The stock’s market cap is $13.29 billion.

FirstEnergy Corporation (NYSE:FE) last released its earnings results on Thursday, April 27th. The utilities provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. FirstEnergy Corporation had a negative net margin of 44.23% and a positive return on equity of 12.79%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the business earned $0.80 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. Analysts predict that FirstEnergy Corporation will post $2.81 earnings per share for the current year.

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A number of brokerages have recently issued reports on FE. Barclays PLC reiterated an “overweight” rating and set a $37.00 price objective (up from $36.00) on shares of FirstEnergy Corporation in a report on Monday. BidaskClub upgraded shares of FirstEnergy Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday. ValuEngine cut shares of FirstEnergy Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley reduced their price objective on shares of FirstEnergy Corporation from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, May 8th. Finally, Jefferies Group LLC reduced their price objective on shares of FirstEnergy Corporation from $32.00 to $31.00 and set a “hold” rating for the company in a report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.66.

About FirstEnergy Corporation

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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