Raleigh Capital Management Inc. Acquires 13,853 Shares of FirstEnergy Corporation (NYSE:FE)

Raleigh Capital Management Inc. raised its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 5,820.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in FirstEnergy by 69.3% during the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after buying an additional 255 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in FirstEnergy during the fourth quarter worth approximately $26,000. Bernard Wealth Management Corp. bought a new stake in FirstEnergy during the fourth quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new stake in FirstEnergy during the fourth quarter worth approximately $33,000. Finally, Tsfg LLC boosted 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 buying an additional 632 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

Insider Activity

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total transaction of $516,360.00. Following the transaction, the chief financial officer directly owned 99,919 shares in the company, valued at $4,299,514.57. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jason Lisowski sold 12,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

FirstEnergy Stock Down 0.3%

FE traded down $0.13 during trading on Tuesday, reaching $39.71. 659,099 shares of the stock traded hands, compared to its average volume of 3,971,094. The stock has a market cap of $22.92 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.45 and a beta of 0.39. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.97. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. The stock's 50-day simple moving average is $41.23 and its two-hundred day simple moving average is $40.47.

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 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 business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, equities research analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FE. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the company a "neutral" rating in a research report on Tuesday, June 24th. 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 report on Wednesday, April 23rd. Wells Fargo & Company raised their target price on FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Mizuho set a $43.00 target price on FirstEnergy in a research report on Monday, April 28th. Finally, Guggenheim raised their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $46.00.

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.