FirstEnergy Corporation (NYSE:FE) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 55.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of FirstEnergy during the 4th quarter worth $256,000. Principal Securities Inc. grew its position in shares of FirstEnergy by 21.0% during the 4th quarter. Principal Securities Inc. now owns 2,876 shares of the utilities provider's stock worth $114,000 after buying an additional 500 shares in the last quarter. Truist Financial Corp grew its position in shares of FirstEnergy by 19.0% during the 4th quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider's stock worth $2,483,000 after buying an additional 9,979 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of FirstEnergy by 6.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,319 shares of the utilities provider's stock worth $450,000 after buying an additional 660 shares in the last quarter. Finally, Ieq Capital LLC grew its position in shares of FirstEnergy by 7.8% during the 4th quarter. Ieq Capital LLC now owns 11,946 shares of the utilities provider's stock worth $475,000 after buying an additional 862 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

Insider Buying and Selling

In related news, CAO Jason Lisowski sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the transaction, the chief accounting officer now owns 183 shares in the company, valued at approximately $7,680.51. This represents a 98.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.17% of the company's stock.

FirstEnergy Stock Down 0.1%

FirstEnergy stock traded down $0.06 during midday trading on Friday, reaching $39.88. The company's stock had a trading volume of 6,653,257 shares, compared to its average volume of 3,946,099. The stock's 50-day simple moving average is $41.52 and its 200-day simple moving average is $40.45. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.97. The stock has a market capitalization of $23.01 billion, a P/E ratio of 21.21, a PEG ratio of 2.45 and a beta of 0.40.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 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 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 posted $0.55 earnings per share. The firm's revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current year.

Analyst Upgrades and Downgrades

FE has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Morgan Stanley dropped their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Evercore ISI upped their price objective on FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $46.00.

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.