Highbridge Capital Management Lowers stake in FirstEnergy Corp. (FE)

FirstEnergy Corp. (FE) : Highbridge Capital Management reduced its stake in FirstEnergy Corp. by 19.01% during the most recent quarter end. The investment management company now holds a total of 1,334,958 shares of FirstEnergy Corp. which is valued at $44,213,809 after selling 313,430 shares in FirstEnergy Corp. , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.FirstEnergy Corp. makes up approximately 1.19% of Highbridge Capital Management’s portfolio.

Other Hedge Funds, Including , Electron Capital Partners added FE to its portfolio by purchasing 16,167 company shares during the most recent quarter which is valued at $535,451. FirstEnergy Corp. makes up approx 0.21% of Electron Capital Partners’s portfolio.Hsbc Holdings Plc boosted its stake in FE in the latest quarter, The investment management firm added 106,003 additional shares and now holds a total of 526,194 shares of FirstEnergy Corp. which is valued at $17,427,545. FirstEnergy Corp. makes up approx 0.06% of Hsbc Holdings Plc’s portfolio.Blackrock Advisors boosted its stake in FE in the latest quarter, The investment management firm added 275,687 additional shares and now holds a total of 1,665,359 shares of FirstEnergy Corp. which is valued at $55,156,690. FirstEnergy Corp. makes up approx 0.06% of Blackrock Advisors’s portfolio.Mutual Of America Capital Management boosted its stake in FE in the latest quarter, The investment management firm added 18,959 additional shares and now holds a total of 93,021 shares of FirstEnergy Corp. which is valued at $3,075,274. FirstEnergy Corp. makes up approx 0.06% of Mutual Of America Capital Management’s portfolio. Montag A Associates Inc added FE to its portfolio by purchasing 74,850 company shares during the most recent quarter which is valued at $2,474,541. FirstEnergy Corp. makes up approx 0.32% of Montag A Associates Inc’s portfolio.

FirstEnergy Corp. closed down -0.28 points or -0.86% at $32.45 with 46,37,119 shares getting traded on Thursday. Post opening the session at $32.67, the shares hit an intraday low of $32.27 and an intraday high of $32.77 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, FirstEnergy Corp. reported $0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.54.Analysts expectations of $ 3585.29.During the same quarter in the previous year, the company posted $0.53 EPS.

Many Wall Street Analysts have commented on FirstEnergy Corp.. FirstEnergy Corp. was Upgraded by Morgan Stanley to ” Overweight” on Aug 8, 2016. FirstEnergy Corp. was Downgraded by Goldman to ” Sell” on Jul 26, 2016.

FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its 10 utility operating companies serving customers within 65000 square miles of Ohio Pennsylvania West Virginia Maryland New Jersey and New York. The Regulated Transmission segment transmits electricity through transmission facilities. The CES segment supplies electricity to end-use customers through retail and wholesale arrangements including retail sales to customers in Ohio Pennsylvania Illinois Michigan New Jersey and Maryland. The Company’s principal subsidiaries include Ohio Edison Company The Cleveland Electric Illuminating Company The Toledo Edison Company Metropolitan Edison Company Pennsylvania Electric Company FirstEnergy Service Company FirstEnergy Solutions Corp. Allegheny Energy Supply Company LLC among others.

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