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

Asset Management One Co. Ltd. reduced its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and 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.

Several other institutional investors and hedge funds have also made changes to their positions in FE. Vanguard Group Inc. raised its holdings in shares of FirstEnergy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 65,843,901 shares of the utilities provider's stock worth $2,619,270,000 after purchasing an additional 508,570 shares during the last quarter. Boston Partners increased its stake in shares of FirstEnergy by 73.5% during the fourth quarter. Boston Partners now owns 16,503,080 shares of the utilities provider's stock worth $656,309,000 after purchasing an additional 6,991,866 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of FirstEnergy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 12,527,440 shares of the utilities provider's stock worth $497,009,000 after purchasing an additional 329,049 shares in the last quarter. Soroban Capital Partners LP boosted its position 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. Finally, Zimmer Partners LP boosted its holdings in FirstEnergy by 33.4% in the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock valued at $195,672,000 after purchasing an additional 1,232,040 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 183 shares of the company's stock, valued at $7,680.51. The trade was a 98.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Guggenheim boosted their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Morgan Stanley cut their target price 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. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $46.00.

FirstEnergy Stock Performance

FirstEnergy stock traded down $0.06 during midday trading on Friday, hitting $39.88. 6,653,257 shares of the company's stock were exchanged, compared to its average volume of 3,941,855. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.34 and a current ratio of 0.42. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.97. The firm's 50 day simple moving average is $41.56 and its 200 day simple moving average is $40.45. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, beating 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 analysts' expectations of $3.68 billion. During the same quarter last year, the business earned $0.55 earnings per share. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts predict 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.