Janney Montgomery Scott LLC Increases Position in FirstEnergy Corporation (NYSE:FE)

Janney Montgomery Scott LLC lifted its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,986 shares of the utilities provider's stock after purchasing an additional 13,976 shares during the period. Janney Montgomery Scott LLC's holdings in FirstEnergy were worth $4,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its position in shares of FirstEnergy by 15.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 28,342 shares of the utilities provider's stock valued at $1,146,000 after buying an additional 3,800 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in FirstEnergy by 217.0% in the first quarter. Sound Income Strategies LLC now owns 1,233 shares of the utilities provider's stock valued at $50,000 after acquiring an additional 844 shares during the last quarter. Elevation Point Wealth Partners LLC increased its position in FirstEnergy by 22.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 16,972 shares of the utilities provider's stock valued at $686,000 after purchasing an additional 3,065 shares during the period. Everhart Financial Group Inc. increased its position in FirstEnergy by 15.2% during the 1st quarter. Everhart Financial Group Inc. now owns 9,136 shares of the utilities provider's stock valued at $369,000 after purchasing an additional 1,207 shares during the period. Finally, Balanced Wealth Group LLC raised its holdings in FirstEnergy by 4.0% during the 1st quarter. Balanced Wealth Group LLC now owns 28,078 shares of the utilities provider's stock worth $1,135,000 after purchasing an additional 1,087 shares during the last quarter. Institutional investors own 89.41% of the company's stock.

FirstEnergy Price Performance

NYSE:FE traded down $0.06 during mid-day trading on Friday, hitting $39.88. 6,653,182 shares of the stock traded hands, compared to its average volume of 3,941,855. The business's 50-day moving average price is $41.56 and its 200 day moving average price is $40.45. The company has a quick ratio of 0.34, a current ratio of 0.42 and a debt-to-equity ratio of 1.53. The company has a market cap of $23.01 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. 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 posted $0.55 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FE. 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 report on Monday, April 28th. Guggenheim increased their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Mizuho set a $43.00 price objective on FirstEnergy in a research note on Monday, April 28th. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Finally, UBS Group set a $44.00 price target on FirstEnergy and gave the company a "neutral" rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $46.00.

Insiders Place Their Bets

In other news, CFO Jon Taylor K. sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 now owns 99,919 shares in the company, valued at $4,299,514.57. This trade represents a 10.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by 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.