FirstEnergy Corporation (NYSE:FE) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 91.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 728,098 shares of the utilities provider's stock after acquiring an additional 346,917 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of FirstEnergy worth $29,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of FE. Covestor Ltd boosted its holdings in FirstEnergy by 69.3% in the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of FirstEnergy in the 4th quarter valued at approximately $26,000. Bernard Wealth Management Corp. acquired a new position in FirstEnergy during the fourth quarter worth $31,000. Tsfg LLC grew its holdings in FirstEnergy by 143.6% during the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock worth $43,000 after acquiring an additional 632 shares during the period. Finally, Versant Capital Management Inc raised its position in FirstEnergy by 179.8% in the first quarter. Versant Capital Management Inc now owns 1,192 shares of the utilities provider's stock worth $48,000 after acquiring an additional 766 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FE. Mizuho set a $43.00 price target on shares of FirstEnergy in a research note on Monday, April 28th. Guggenheim upped their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Scotiabank reissued an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $45.92.

Insider Buying and Selling

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

FirstEnergy Price Performance

FirstEnergy stock traded up $0.28 during mid-day trading on Thursday, hitting $40.58. 3,283,519 shares of the company were exchanged, compared to its average volume of 4,023,245. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.97. The company has a market capitalization of $23.42 billion, a P/E ratio of 21.58, a PEG ratio of 2.49 and a beta of 0.39. The business's 50 day simple moving average is $40.85 and its two-hundred day simple moving average is $40.48. 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 (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 EPS 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 analysts' expectations of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. Analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

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.