FirstEnergy Corporation (NYSE:FE) Shares Sold by Cwm LLC

CWM LLC lowered its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 60.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,804 shares of the utilities provider's stock after selling 18,276 shares during the quarter. CWM LLC's holdings in FirstEnergy were worth $477,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of FirstEnergy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 12,527,440 shares of the utilities provider's stock worth $497,009,000 after acquiring an additional 329,049 shares in the last quarter. Soroban Capital Partners LP raised its position 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 worth $331,795,000 after acquiring an additional 3,133,083 shares in the last quarter. Zimmer Partners LP raised its position in shares of FirstEnergy by 33.4% in 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. Northern Trust Corp raised its position in shares of FirstEnergy by 6.4% in the 4th quarter. Northern Trust Corp now owns 4,606,758 shares of the utilities provider's stock worth $183,257,000 after acquiring an additional 276,241 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of FirstEnergy by 5.5% in the 4th quarter. Royal Bank of Canada now owns 3,981,944 shares of the utilities provider's stock worth $158,403,000 after acquiring an additional 206,000 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FE. KeyCorp restated an "overweight" rating and set a $46.00 target price (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Evercore ISI boosted their target price on FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. UBS Group set a $44.00 target price on FirstEnergy and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Wells Fargo & Company boosted their target price on FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Finally, Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $45.92.

FirstEnergy Stock Performance

Shares of FE traded down $0.50 during mid-day trading on Monday, reaching $41.44. The company had a trading volume of 4,313,453 shares, compared to its average volume of 3,680,821. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.97. 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 stock has a market capitalization of $23.92 billion, a P/E ratio of 22.04, a PEG ratio of 2.58 and a beta of 0.39. The stock has a 50 day moving average of $40.71 and a two-hundred day moving average of $40.59.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 7th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.30%. FirstEnergy's payout ratio is 94.68%.

Insider Transactions at FirstEnergy

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total transaction of $516,360.00. Following the transaction, the chief financial officer owned 99,919 shares in the company, valued at approximately $4,299,514.57. This represents a 10.72% 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. Also, CAO Jason Lisowski sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total value of $503,640.00. Following the transaction, the chief accounting officer owned 183 shares in the company, valued at $7,680.51. This represents a 98.50% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

FirstEnergy 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.