Asset Management One Co. Ltd. Lowers Holdings in FirstEnergy Corporation (NYSE:FE)

Asset Management One Co. Ltd. lowered its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 373,552 shares of the utilities provider's stock after selling 18,359 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of FirstEnergy worth $15,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FE. Schroder Investment Management Group raised its stake in FirstEnergy by 56.0% in the fourth quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock valued at $1,933,000 after purchasing an additional 17,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in FirstEnergy by 17.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider's stock valued at $211,000 after buying an additional 797 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at approximately $3,584,000. Johnson Investment Counsel Inc. raised its position in shares of FirstEnergy by 3.8% in the 1st quarter. Johnson Investment Counsel Inc. now owns 9,983 shares of the utilities provider's stock valued at $403,000 after buying an additional 366 shares in the last quarter. Finally, Mariner LLC lifted its holdings in shares of FirstEnergy by 16.1% during the 4th quarter. Mariner LLC now owns 95,039 shares of the utilities provider's stock worth $3,781,000 after acquiring an additional 13,196 shares during the period. Institutional investors and hedge funds own 89.41% of the company's stock.

Insider Buying and Selling at FirstEnergy

In related news, 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jason Lisowski sold 12,000 shares of FirstEnergy 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 directly owned 183 shares of the company's stock, valued at $7,680.51. The trade was a 98.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FE. UBS Group set a $44.00 price objective on shares of FirstEnergy and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Wells Fargo & Company lifted their price target on FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Mizuho set a $43.00 price target on FirstEnergy in a report on Monday, April 28th. Evercore ISI raised their price objective on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Morgan Stanley decreased their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $46.00.

FirstEnergy Stock Performance

FE traded up $0.37 during trading hours on Monday, hitting $40.27. The stock had a trading volume of 6,173,619 shares, compared to its average volume of 3,955,010. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $44.97. The company's fifty day simple moving average is $41.49 and its 200 day simple moving average is $40.45. The stock has a market cap of $23.24 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40. 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 (NYSE:FE - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate 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.