OLD Republic International Corp Makes New $21.08 Million Investment in FirstEnergy Corporation (NYSE:FE)

OLD Republic International Corp bought a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 521,500 shares of the utilities provider's stock, valued at approximately $21,079,000. OLD Republic International Corp owned 0.09% of FirstEnergy as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Covestor Ltd boosted its position in FirstEnergy by 69.3% during the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of FirstEnergy in the 4th quarter worth approximately $26,000. Bernard Wealth Management Corp. bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $33,000. Finally, Tsfg LLC lifted its position in FirstEnergy by 143.6% during the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 632 shares during the last quarter. Institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Performance

Shares of NYSE FE traded down $0.02 during trading on Monday, reaching $39.86. 3,535,262 shares of the company traded hands, compared to its average volume of 3,983,819. The stock has a market cap of $23.01 billion, a P/E ratio of 21.20, a PEG ratio of 2.45 and a beta of 0.39. The firm's fifty day simple moving average is $41.29 and its 200 day simple moving average is $40.47. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53. 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 announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.68 billion. During the same period last year, the business earned $0.55 earnings per share. FirstEnergy's quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FE shares. Wells Fargo & Company lifted their price target on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Mizuho set a $43.00 target price on FirstEnergy in a research note on Monday, April 28th. UBS Group set a $44.00 price target on FirstEnergy and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Guggenheim boosted their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday, April 7th. Finally, Morgan Stanley cut their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, FirstEnergy currently has a consensus 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 stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total transaction of $503,640.00. Following the transaction, the chief accounting officer owned 183 shares in the company, valued at approximately $7,680.51. This represents a 98.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jon Taylor K. sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total value of $516,360.00. Following the completion of the sale, the chief financial officer directly owned 99,919 shares in the company, valued at approximately $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. Corporate insiders own 0.17% of the company's stock.

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.