LifeWealth Investments LLC Takes Position in FirstEnergy Corporation (NYSE:FE)

LifeWealth Investments LLC acquired a new position in FirstEnergy Corporation (NYSE:FE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,141 shares of the utilities provider's stock, valued at approximately $329,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd boosted its holdings in FirstEnergy by 69.3% in the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 255 shares during the period. Kestra Investment Management LLC acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new stake in shares of FirstEnergy in the fourth quarter valued at about $26,000. Bernard Wealth Management Corp. bought a new stake in shares of FirstEnergy in the fourth quarter valued at about $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in FirstEnergy during the fourth quarter worth about $33,000. Institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Down 0.2%

Shares of NYSE FE opened at $39.70 on Wednesday. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-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 business has a fifty day moving average of $41.66 and a two-hundred day moving average of $40.51. The stock has a market cap of $22.91 billion, a PE ratio of 21.12, a PEG ratio of 2.45 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 7.78% and a return on equity of 11.49%. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. As a group, equities research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

FE has been the subject of several recent research reports. Wells Fargo & Company upped their price target on FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Morgan Stanley restated an "overweight" rating and set a $48.00 price objective (up from $47.00) on shares of FirstEnergy in a research report on Thursday, May 22nd. Evercore ISI raised their target price on FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Mizuho set a $43.00 price target on shares of FirstEnergy in a research note on Monday, April 28th. Finally, UBS Group boosted their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Eight equities research 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, the stock presently has a consensus rating of "Hold" and an average target price of $46.00.

Insider Buying and Selling

In related news, CFO Jon Taylor K. sold 12,000 shares of FirstEnergy 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 completion of the transaction, the chief financial officer now directly owns 99,919 shares of the company's stock, valued at $4,299,514.57. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by corporate 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.

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