FirstEnergy Corporation (NYSE:FE) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 86.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,698 shares of the utilities provider's stock after selling 81,051 shares during the quarter. First Horizon Advisors Inc.'s holdings in FirstEnergy were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Rossby Financial LCC purchased a new position in FirstEnergy during the first quarter worth about $86,000. DAVENPORT & Co LLC purchased a new position in FirstEnergy during the first quarter worth about $1,453,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in FirstEnergy by 18.0% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 66,831 shares of the utilities provider's stock worth $2,701,000 after buying an additional 10,218 shares during the period. Vontobel Holding Ltd. lifted its position in FirstEnergy by 29.7% during the first quarter. Vontobel Holding Ltd. now owns 7,684 shares of the utilities provider's stock worth $311,000 after buying an additional 1,760 shares during the period. Finally, Mather Group LLC. lifted its position in FirstEnergy by 14.4% during the first quarter. Mather Group LLC. now owns 3,631 shares of the utilities provider's stock worth $147,000 after buying an additional 456 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FE has been the topic of a number of research reports. Evercore ISI raised their price objective on FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Morgan Stanley lowered their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Bank of America upgraded FirstEnergy from an "underperform" rating to a "neutral" rating and increased their target price for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, Mizuho set a $43.00 target price on FirstEnergy in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, FirstEnergy has an average rating of "Hold" and an average price target of $46.00.

FirstEnergy Stock Up 0.2%

NYSE FE traded up $0.06 during mid-day trading on Friday, reaching $39.82. 2,417,082 shares of the company's stock traded hands, compared to its average volume of 3,985,621. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $44.97. The company has a fifty day simple moving average of $41.29 and a 200-day simple moving average of $40.46. 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 company has a market cap of $22.98 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 2.45 and a beta of 0.39.

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

Insider Buying and Selling

In other news, 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 value of $503,640.00. Following the completion of the transaction, the chief accounting officer owned 183 shares in the company, valued at approximately $7,680.51. This trade represents a 98.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jon Taylor K. sold 12,000 shares of FirstEnergy stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total value of $516,360.00. Following the completion of the transaction, the chief financial officer owned 99,919 shares of the company's stock, valued at approximately $4,299,514.57. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by company 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.