FirstEnergy Corporation (NYSE:FE) Stake Reduced by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 82.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,769 shares of the utilities provider's stock after selling 37,437 shares during the period. Edgestream Partners L.P.'s holdings in FirstEnergy were worth $314,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FE. Covestor Ltd increased its stake in shares of FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after purchasing an additional 255 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of FirstEnergy in the 4th quarter worth about $26,000. TruNorth Capital Management LLC lifted its holdings in shares of FirstEnergy by 226.9% in the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after acquiring an additional 490 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in FirstEnergy during the 4th quarter valued at about $31,000. Finally, Tsfg LLC lifted its holdings in FirstEnergy by 143.6% during the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after buying an additional 632 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

FirstEnergy Price Performance

FirstEnergy stock traded up $0.43 during midday trading on Thursday, reaching $41.62. The company's stock had a trading volume of 985,111 shares, compared to its average volume of 5,000,572. 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 quick ratio of 0.34 and a current ratio of 0.42. The stock's 50 day simple moving average is $40.77 and its 200 day simple moving average is $40.52. The firm has a market capitalization of $24.02 billion, a PE ratio of 22.14, a P/E/G ratio of 2.56 and a beta of 0.39.

FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share 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 the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 7th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 4.28%. FirstEnergy's dividend payout ratio (DPR) is 94.68%.

Analyst Upgrades and Downgrades

FE has been the topic of a number of analyst reports. UBS Group set a $44.00 price objective on shares of FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Mizuho set a $43.00 target price on shares of FirstEnergy in a research report on Monday, April 28th. Evercore ISI boosted their target price on shares of FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $42.00 to $45.00 in a research report on Wednesday, April 23rd. Finally, Guggenheim upped their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a report on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, FirstEnergy currently has an average rating of "Hold" and a consensus target price of $45.92.

Insider Activity

In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was 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. This represents a 98.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jon Taylor K. sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total value of $516,360.00. Following the completion of the transaction, the chief financial officer directly owned 99,919 shares in the company, valued at approximately $4,299,514.57. The trade was a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

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.