Diversify Wealth Management LLC Trims Stock Position in FirstEnergy Corporation (NYSE:FE)

Diversify Wealth Management LLC cut its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 46.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,112 shares of the utilities provider's stock after selling 7,081 shares during the quarter. Diversify Wealth Management LLC's holdings in FirstEnergy were worth $349,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. raised its stake in FirstEnergy by 2.0% during the 1st quarter. Xponance Inc. now owns 80,346 shares of the utilities provider's stock valued at $3,248,000 after buying an additional 1,611 shares during the last quarter. Cerity Partners LLC grew its position in FirstEnergy by 29.0% during the first quarter. Cerity Partners LLC now owns 359,028 shares of the utilities provider's stock valued at $14,512,000 after buying an additional 80,802 shares during the period. Alps Advisors Inc. raised its holdings in FirstEnergy by 0.8% in the 1st quarter. Alps Advisors Inc. now owns 606,500 shares of the utilities provider's stock worth $24,515,000 after purchasing an additional 4,920 shares during the period. Allworth Financial LP increased its holdings in FirstEnergy by 7.4% in the 1st quarter. Allworth Financial LP now owns 5,136 shares of the utilities provider's stock worth $217,000 after acquiring an additional 353 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of FirstEnergy by 28.1% in the first quarter. Nisa Investment Advisors LLC now owns 32,491 shares of the utilities provider's stock worth $1,313,000 after purchasing an additional 7,135 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Trading Up 0.2%

Shares of NYSE:FE traded up $0.08 during trading on Monday, reaching $40.47. The company's stock had a trading volume of 2,988,532 shares, compared to its average volume of 5,100,765. The stock has a market capitalization of $23.35 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.48 and a beta of 0.39. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $44.97. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53. The firm's 50 day simple moving average is $41.01 and its two-hundred day simple moving average is $40.48.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $3.80 billion during 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 company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. On average, research analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

Insider Buying and Selling at FirstEnergy

In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the transaction, the chief accounting officer directly owned 183 shares in the company, valued at $7,680.51. This represents a 98.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jon Taylor K. sold 12,000 shares of FirstEnergy stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total value of $516,360.00. Following the completion of the sale, the chief financial officer owned 99,919 shares of the company's stock, valued at $4,299,514.57. The trade was a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Mizuho set a $43.00 target price on FirstEnergy in a research report on Monday, April 28th. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Evercore ISI lifted their price objective on shares of FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Scotiabank reissued an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $46.00.

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.