FirstEnergy Corporation (NYSE:FE) Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 17.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,423 shares of the utilities provider's stock after acquiring an additional 8,467 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in FirstEnergy were worth $2,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. Boston Partners lifted its holdings in shares of FirstEnergy by 73.5% during the 4th quarter. Boston Partners now owns 16,503,080 shares of the utilities provider's stock worth $656,309,000 after acquiring an additional 6,991,866 shares during the period. Soroban Capital Partners LP increased its stake in FirstEnergy by 60.2% during the fourth quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock worth $331,795,000 after acquiring an additional 3,133,083 shares during the last quarter. Wealthquest Corp purchased a new position in shares of FirstEnergy in the 1st quarter valued at $53,169,000. Zimmer Partners LP lifted its holdings in shares of FirstEnergy by 33.4% during the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock valued at $195,672,000 after acquiring an additional 1,232,040 shares in the last quarter. Finally, Amundi boosted its position in FirstEnergy by 103.8% during the 4th quarter. Amundi now owns 1,843,964 shares of the utilities provider's stock worth $73,334,000 after purchasing an additional 939,240 shares during the period. Hedge funds and other institutional investors own 89.41% of the company's stock.

Analysts Set New Price Targets

FE has been the topic of a number of recent research reports. Mizuho set a $43.00 price objective on FirstEnergy in a research note on Monday, April 28th. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Bank of America upgraded shares of FirstEnergy from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Finally, Morgan Stanley lowered their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $46.00.

Insiders Place Their Bets

In related news, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were 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 owned 183 shares of the company's stock, valued at $7,680.51. This represents a 98.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jon Taylor K. sold 12,000 shares of the 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 sale, the chief financial officer owned 99,919 shares in the company, valued at approximately $4,299,514.57. This trade represents a 10.72% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company's stock.

FirstEnergy Stock Up 0.2%

Shares of FE traded up $0.06 during midday trading on Friday, hitting $39.82. The company had a trading volume of 2,417,082 shares, compared to its average volume of 3,976,990. 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 52 week low of $37.58 and a 52 week high of $44.97. The company's 50 day moving average price is $41.34 and its 200 day moving average price is $40.45. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.44 and a beta of 0.39.

FirstEnergy (NYSE:FE - Get Free Report) last announced 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. The firm had revenue of $3.80 billion for 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%. FirstEnergy's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities research analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

About FirstEnergy

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.