Cambridge Investment Research Advisors Inc. Has $2.88 Million Holdings in FirstEnergy Corporation (NYSE:FE)

Cambridge Investment Research Advisors Inc. increased its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,333 shares of the utilities provider's stock after acquiring an additional 8,879 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in FirstEnergy were worth $2,883,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in FirstEnergy in the fourth quarter worth $256,000. New York Life Investment Management LLC lifted its position in shares of FirstEnergy by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 68,791 shares of the utilities provider's stock worth $2,737,000 after buying an additional 582 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of FirstEnergy in the fourth quarter worth about $3,584,000. QRG Capital Management Inc. boosted its stake in shares of FirstEnergy by 27.6% during the 4th quarter. QRG Capital Management Inc. now owns 16,235 shares of the utilities provider's stock worth $646,000 after acquiring an additional 3,507 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of FirstEnergy by 3.4% during the 4th quarter. US Bancorp DE now owns 40,256 shares of the utilities provider's stock valued at $1,601,000 after acquiring an additional 1,311 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 value of $516,360.00. Following the completion of the transaction, the chief financial officer directly owned 99,919 shares of the company's stock, valued at approximately $4,299,514.57. This represents a 10.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jason Lisowski sold 12,000 shares of the business's 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 directly owned 183 shares in the company, valued at approximately $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 currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FE shares. UBS Group set a $44.00 target price on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $42.00 to $45.00 in a report on Wednesday, April 23rd. Morgan Stanley dropped their target price on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Wells Fargo & Company boosted their target price 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. Finally, Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $46.00.

FirstEnergy Stock Performance

Shares of FE stock traded down $0.62 during mid-day trading on Wednesday, reaching $39.76. The stock had a trading volume of 5,212,179 shares, compared to its average volume of 3,972,511. The firm has a market cap of $22.95 billion, a PE ratio of 21.15, a P/E/G ratio of 2.48 and a beta of 0.39. 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 one year low of $37.58 and a one year high of $44.97. The firm's 50 day simple moving average is $41.45 and its 200 day simple moving average is $40.45.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.07. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.68 billion. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The business's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current year.

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.