Csenge Advisory Group Buys 928 Shares of FirstEnergy Corp. (NYSE:FE)

Csenge Advisory Group raised its stake in FirstEnergy Corp. (NYSE:FE) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,719 shares of the utilities provider’s stock after acquiring an additional 928 shares during the quarter. Csenge Advisory Group’s holdings in FirstEnergy were worth $568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FE. Richardson Financial Services Inc. raised its holdings in FirstEnergy by 6.2% in the 1st quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider’s stock valued at $193,000 after buying an additional 290 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in FirstEnergy by 67.9% in the 1st quarter. Salomon & Ludwin LLC now owns 1,310 shares of the utilities provider’s stock valued at $51,000 after buying an additional 530 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in FirstEnergy by 12.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 53,217 shares of the utilities provider’s stock valued at $2,055,000 after buying an additional 5,963 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC raised its holdings in FirstEnergy by 4.5% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 191,546 shares of the utilities provider’s stock valued at $7,398,000 after buying an additional 8,194 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

FE has been the subject of a number of recent analyst reports. Mizuho increased their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. The Goldman Sachs Group began coverage on FirstEnergy in a research note on Wednesday, April 10th. They set a “buy” rating and a $45.00 price objective on the stock. Bank of America lifted their target price on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Morgan Stanley lowered their price objective on FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.55.

FirstEnergy Stock Performance

FE stock traded up $0.55 during trading on Thursday, hitting $39.47. The company had a trading volume of 1,233,453 shares, compared to its average volume of 2,999,288. The firm has a market cap of $22.72 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.44 and a beta of 0.49. FirstEnergy Corp. has a 1-year low of $32.18 and a 1-year high of $40.65. The firm has a 50-day moving average price of $39.06 and a 200-day moving average price of $38.07. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59.

FirstEnergy (NYSE:FE) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.36 billion. On average, analysts expect that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

FirstEnergy Company Profile

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