Envestnet Portfolio Solutions Inc. boosted its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 348.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,828 shares of the utilities provider's stock after buying an additional 18,513 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in FirstEnergy were worth $963,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after buying an additional 255 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in FirstEnergy during the 4th quarter worth approximately $26,000. Bernard Wealth Management Corp. purchased a new position in FirstEnergy during the 4th quarter worth approximately $31,000. SBI Securities Co. Ltd. purchased a new position in FirstEnergy during the 4th quarter worth approximately $33,000. Finally, Versant Capital Management Inc grew its position in FirstEnergy by 179.8% during the 1st quarter. Versant Capital Management Inc now owns 1,192 shares of the utilities provider's stock worth $48,000 after purchasing an additional 766 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on FE shares. UBS Group lifted their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock a "neutral" rating in a research report on Tuesday. Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Morgan Stanley lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Guggenheim lifted their price objective 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. Finally, Wells Fargo & Company lifted their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.00.
Check Out Our Latest Report on FE
FirstEnergy Stock Down 1.4%
Shares of FirstEnergy stock traded down $0.55 on Wednesday, hitting $39.96. 3,770,867 shares of the company traded hands, compared to its average volume of 3,921,079. The company has a 50-day moving average price of $41.60 and a 200 day moving average price of $40.46. The company has a quick ratio of 0.34, a current ratio of 0.42 and a debt-to-equity ratio of 1.53. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.97. The company has a market cap of $23.06 billion, a PE ratio of 21.26, a PEG ratio of 2.49 and a beta of 0.40.
FirstEnergy (NYSE:FE - Get Free Report) last released 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. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the business earned $0.55 EPS. FirstEnergy's quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.
Insider Activity at FirstEnergy
In related news, CAO Jason Lisowski sold 12,000 shares of FirstEnergy stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the completion of the sale, the chief accounting officer now owns 183 shares of the company's stock, valued at approximately $7,680.51. The trade was a 98.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by company insiders.
About FirstEnergy
(
Free Report)
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.
Featured Articles
Before you consider FirstEnergy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FirstEnergy wasn't on the list.
While FirstEnergy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
