IFM Investors Pty Ltd Raises Stock Position in FirstEnergy Corporation (NYSE:FE)

IFM Investors Pty Ltd lifted its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,920 shares of the utilities provider's stock after acquiring an additional 13,272 shares during the quarter. IFM Investors Pty Ltd's holdings in FirstEnergy were worth $9,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have 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 acquiring an additional 255 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of FirstEnergy in the fourth quarter worth $26,000. Bernard Wealth Management Corp. acquired a new stake in shares of FirstEnergy in the fourth quarter worth $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of FirstEnergy in the fourth quarter worth $33,000. Finally, Tsfg LLC increased its stake in shares of FirstEnergy by 143.6% in the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock worth $43,000 after acquiring an additional 632 shares during the period. Institutional investors and hedge funds own 89.41% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Wells Fargo & Company raised their price target on shares of FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Finally, Mizuho set a $43.00 price target on shares of FirstEnergy in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, FirstEnergy presently has an average rating of "Hold" and a consensus target price of $46.00.

Insider Transactions at FirstEnergy

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 transaction, the chief accounting officer directly owned 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jon Taylor K. sold 12,000 shares of the business's 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 transaction, the chief financial officer owned 99,919 shares in the company, valued at $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. Insiders own 0.17% of the company's stock.

FirstEnergy Price Performance

Shares of NYSE FE traded up $0.06 during trading on Friday, hitting $39.82. The company had a trading volume of 2,417,082 shares, compared to its average volume of 3,985,621. The stock has a fifty day simple moving average of $41.29 and a two-hundred day simple moving average of $40.46. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.97. The firm has a market capitalization of $22.98 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.45 and a beta of 0.39. 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 announced its earnings results 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. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the business earned $0.55 earnings per share. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share 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.