KBC Group NV Has $1.28 Million Position in FirstEnergy Corporation (NYSE:FE)

KBC Group NV trimmed its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 41.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,625 shares of the utilities provider's stock after selling 22,535 shares during the quarter. KBC Group NV's holdings in FirstEnergy were worth $1,278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. Boston Partners boosted its position in shares of FirstEnergy by 73.5% in the fourth quarter. Boston Partners now owns 16,503,080 shares of the utilities provider's stock valued at $656,309,000 after acquiring an additional 6,991,866 shares during the period. Soroban Capital Partners LP boosted its position in shares of FirstEnergy by 60.2% in the fourth quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock valued at $331,795,000 after acquiring an additional 3,133,083 shares during the period. Wealthquest Corp bought a new stake in shares of FirstEnergy in the first quarter valued at about $53,169,000. Zimmer Partners LP boosted its position in shares of FirstEnergy by 33.4% in the fourth quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock valued at $195,672,000 after acquiring an additional 1,232,040 shares during the period. Finally, Amundi boosted its position in shares of FirstEnergy by 103.8% in the fourth quarter. Amundi now owns 1,843,964 shares of the utilities provider's stock valued at $73,334,000 after acquiring an additional 939,240 shares during the period. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

NYSE FE traded up $0.06 during trading on Friday, hitting $39.82. 2,417,082 shares of the company's stock were exchanged, compared to its average volume of 3,985,621. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53. The company has a market cap of $22.98 billion, a PE ratio of 21.18, a P/E/G ratio of 2.45 and a beta of 0.39. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.97. The stock's 50 day moving average price is $41.29 and its two-hundred day moving average price is $40.46.

FirstEnergy (NYSE:FE - Get Free Report) last issued 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 firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Research analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current year.

Analyst Upgrades and Downgrades

FE has been the subject of a number of recent research reports. Evercore ISI boosted their target price on shares of FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Wells Fargo & Company boosted their price target on FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Guggenheim upped their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Finally, Mizuho set a $43.00 price objective on shares of FirstEnergy in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, FirstEnergy has an average rating of "Hold" and a consensus price target of $46.00.

Insider Activity

In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total transaction of $503,640.00. Following the completion of the transaction, the chief accounting officer owned 183 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, 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 value of $516,360.00. Following the transaction, the chief financial officer directly owned 99,919 shares of the company's stock, valued at approximately $4,299,514.57. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

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.