FirstEnergy Corporation (NYSE:FE) Shares Bought by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lifted its stake in FirstEnergy Corporation (NYSE:FE - Free Report) by 5,820.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,091 shares of the utilities provider's stock after buying an additional 13,853 shares during the period. Raleigh Capital Management Inc.'s holdings in FirstEnergy were worth $570,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. 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 worth $25,000 after acquiring an additional 255 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $26,000. Bernard Wealth Management Corp. purchased a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new position in shares of FirstEnergy during the fourth quarter worth $33,000. Finally, Tsfg LLC boosted its stake in shares of FirstEnergy by 143.6% in the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 632 shares during the period. Institutional investors and hedge funds own 89.41% of the company's stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FE shares. Morgan Stanley dropped their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Mizuho set a $43.00 price target on FirstEnergy in a research note on Monday, April 28th. Bank of America upgraded FirstEnergy from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, Evercore ISI lifted 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. Eight equities research 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, the stock has an average rating of "Hold" and an average price target of $46.00.

FirstEnergy Stock Performance

FirstEnergy stock opened at $39.82 on Monday. The company has a market cap of $22.98 billion, a PE ratio of 21.18, a P/E/G ratio of 2.45 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 fifty day moving average price of $41.29 and a two-hundred day moving average price of $40.47. 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 results on Wednesday, April 23rd. The utilities provider reported $0.67 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 net margin of 7.78% and a return on equity of 11.49%. The company's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current 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.

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