GAMMA Investing LLC Has $17.46 Million Stock Position in FirstEnergy Corp. (NYSE:FE)

GAMMA Investing LLC increased its position in FirstEnergy Corp. (NYSE:FE - Free Report) by 3,864.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 431,969 shares of the utilities provider's stock after purchasing an additional 421,072 shares during the quarter. GAMMA Investing LLC owned approximately 0.07% of FirstEnergy worth $17,460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balanced Wealth Group LLC increased its holdings in FirstEnergy by 0.9% in the fourth quarter. Balanced Wealth Group LLC now owns 26,991 shares of the utilities provider's stock valued at $1,074,000 after purchasing an additional 250 shares during the last quarter. Covestor Ltd grew its position in shares of FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after buying an additional 255 shares during the period. Focus Partners Wealth increased its stake in shares of FirstEnergy by 1.4% in the 4th quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock valued at $835,000 after acquiring an additional 272 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of FirstEnergy by 33.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,326 shares of the utilities provider's stock valued at $53,000 after acquiring an additional 329 shares during the period. Finally, Horizon Investments LLC raised its position in shares of FirstEnergy by 4.8% in the 4th quarter. Horizon Investments LLC now owns 7,290 shares of the utilities provider's stock valued at $287,000 after acquiring an additional 336 shares during the period. 89.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on FE. Mizuho set a $43.00 target price on shares of FirstEnergy in a research note on Monday, April 28th. Bank of America raised FirstEnergy from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Morgan Stanley reissued an "overweight" rating and issued a $48.00 target price (up from $47.00) on shares of FirstEnergy in a research note on Thursday, May 22nd. Evercore ISI increased their price target on FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $46.00.

FirstEnergy Stock Down 0.2%

FirstEnergy stock traded down $0.09 during midday trading on Friday, reaching $40.65. The stock had a trading volume of 2,702,794 shares, compared to its average volume of 3,724,187. FirstEnergy Corp. has a 1-year low of $37.58 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm's fifty day simple moving average is $41.57 and its 200-day simple moving average is $40.62. The stock has a market capitalization of $23.46 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40.

FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm's revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th were issued a $0.445 dividend. This is a boost from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, May 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.38%. FirstEnergy's dividend payout ratio (DPR) is presently 94.68%.

Insider Activity at FirstEnergy

In related news, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total transaction of $503,640.00. Following the transaction, the chief accounting officer now directly owns 183 shares in the company, valued at approximately $7,680.51. The trade was a 98.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by company insiders.

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.