Cornerstone Wealth Group LLC Buys 6,574 Shares of FirstEnergy Corporation (NYSE:FE)

Cornerstone Wealth Group LLC boosted its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,675 shares of the utilities provider's stock after acquiring an additional 6,574 shares during the quarter. Cornerstone Wealth Group LLC's holdings in FirstEnergy were worth $3,948,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Boston Partners raised its stake in FirstEnergy by 73.5% during the 4th quarter. Boston Partners now owns 16,503,080 shares of the utilities provider's stock valued at $656,309,000 after purchasing an additional 6,991,866 shares during the period. Soroban Capital Partners LP lifted its stake in shares of FirstEnergy by 60.2% in the 4th quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock valued at $331,795,000 after purchasing an additional 3,133,083 shares during the last quarter. Zimmer Partners LP boosted its stake in shares of FirstEnergy by 33.4% during the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock worth $195,672,000 after acquiring an additional 1,232,040 shares in the last quarter. Amundi raised its position in shares of FirstEnergy by 103.8% in the fourth quarter. Amundi now owns 1,843,964 shares of the utilities provider's stock valued at $73,334,000 after purchasing an additional 939,240 shares during the period. Finally, Renaissance Technologies LLC grew its stake in FirstEnergy by 118.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,640,808 shares of the utilities provider's stock valued at $65,271,000 after buying an additional 888,800 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Jason Lisowski sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total transaction of $503,640.00. Following the sale, the chief accounting officer now owns 183 shares in the company, valued at approximately $7,680.51. This trade represents a 98.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company's stock.

FirstEnergy Trading Down 1.4%

Shares of FirstEnergy stock traded down $0.55 during trading on Wednesday, hitting $39.96. 3,770,867 shares of the company were exchanged, compared to its average volume of 3,915,176. The firm has a market capitalization of $23.06 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.48 and a beta of 0.40. The firm's fifty day moving average price is $41.62 and its 200 day moving average price is $40.46. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $44.97.

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

Wall Street Analysts Forecast Growth

FE has been the subject of a number of research analyst reports. UBS Group upped their price target on FirstEnergy from $41.00 to $44.00 and gave the stock a "neutral" rating in a report on Tuesday. Scotiabank restated an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Evercore ISI boosted their price target on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Mizuho set a $43.00 target price on FirstEnergy in a research note on Monday, April 28th. Finally, Wells Fargo & Company lifted their price target on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $46.00.

About FirstEnergy

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.