Wealthquest Corp Invests $53.17 Million in FirstEnergy Corporation (NYSE:FE)

Wealthquest Corp bought a new stake in FirstEnergy Corporation (NYSE:FE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,315,423 shares of the utilities provider's stock, valued at approximately $53,169,000. FirstEnergy accounts for approximately 5.1% of Wealthquest Corp's investment portfolio, making the stock its 5th biggest holding. Wealthquest Corp owned 0.23% of FirstEnergy as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC grew its stake in shares of FirstEnergy by 7.2% in the first quarter. Cornerstone Wealth Group LLC now owns 97,675 shares of the utilities provider's stock valued at $3,948,000 after buying an additional 6,574 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in FirstEnergy by 9.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider's stock valued at $718,000 after acquiring an additional 1,464 shares during the period. Longboard Asset Management LP acquired a new position in FirstEnergy in the 1st quarter valued at about $201,000. Cambridge Investment Research Advisors Inc. grew its position in FirstEnergy by 14.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider's stock valued at $2,883,000 after acquiring an additional 8,879 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its stake in FirstEnergy by 13.0% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,741 shares of the utilities provider's stock worth $677,000 after purchasing an additional 1,930 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on FE shares. Mizuho set a $43.00 price objective on shares of FirstEnergy in a research note on Monday, April 28th. Guggenheim raised their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Monday, April 7th. UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday. Bank of America upgraded FirstEnergy from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $42.00 to $45.00 in a report on Wednesday, April 23rd. Finally, Scotiabank restated an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.00.

FirstEnergy Stock Up 0.1%

FirstEnergy stock traded up $0.03 during midday trading on Thursday, reaching $39.95. The company's stock had a trading volume of 4,549,666 shares, compared to its average volume of 3,931,009. The company has a market cap of $23.06 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.49 and a beta of 0.40. The company has a quick ratio of 0.34, a current ratio of 0.42 and a debt-to-equity ratio of 1.53. The business has a 50-day simple moving average of $41.60 and a 200-day simple moving average of $40.46. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.55 EPS. On average, research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total transaction of $503,640.00. Following the transaction, the chief accounting officer now owns 183 shares of the company's stock, valued at approximately $7,680.51. This trade represents a 98.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.