Oppenheimer Asset Management Inc. Trims Stock Holdings in FirstEnergy Corporation (NYSE:FE)

Oppenheimer Asset Management Inc. lowered its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 55.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,220 shares of the utilities provider's stock after selling 94,520 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in FirstEnergy were worth $3,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FE. Schroder Investment Management Group increased its stake in shares of FirstEnergy by 56.0% in the 4th quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock worth $1,933,000 after acquiring an additional 17,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in FirstEnergy by 17.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider's stock worth $211,000 after acquiring an additional 797 shares in the last quarter. Truist Financial Corp grew its stake in shares of FirstEnergy by 19.0% in the fourth quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider's stock worth $2,483,000 after acquiring an additional 9,979 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of FirstEnergy during the fourth quarter valued at $3,584,000. Finally, Mariner LLC increased its holdings in shares of FirstEnergy by 16.1% during the fourth quarter. Mariner LLC now owns 95,039 shares of the utilities provider's stock valued at $3,781,000 after acquiring an additional 13,196 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

Insider Transactions at FirstEnergy

In other news, CAO Jason Lisowski sold 12,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total value of $503,640.00. Following the completion of the sale, the chief accounting officer now directly owns 183 shares in the company, valued at $7,680.51. This represents a 98.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.17% of the company's stock.

FirstEnergy Price Performance

NYSE FE opened at $39.96 on Thursday. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.49 and a beta of 0.40. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. The business's fifty day moving average price is $41.60 and its 200-day moving average price is $40.46.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. FirstEnergy's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on FE. Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. UBS Group upped their target price on shares of FirstEnergy from $41.00 to $44.00 and gave the stock a "neutral" rating in a research note on Tuesday. Mizuho set a $43.00 price target on shares of FirstEnergy in a report on Monday, April 28th. Guggenheim boosted their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Finally, Morgan Stanley lowered their price objective on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $46.00.

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.

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