Penserra Capital Management LLC Has $952,000 Stock Holdings in FirstEnergy Corporation (NYSE:FE)

Penserra Capital Management LLC lifted its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 1,652.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,594 shares of the utilities provider's stock after acquiring an additional 22,248 shares during the quarter. Penserra Capital Management LLC's holdings in FirstEnergy were worth $952,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Balanced Wealth Group LLC boosted its position in shares of FirstEnergy by 0.9% in the fourth quarter. Balanced Wealth Group LLC now owns 26,991 shares of the utilities provider's stock worth $1,074,000 after buying an additional 250 shares during the period. Covestor Ltd boosted its position in shares of FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after buying an additional 255 shares during the period. Focus Partners Wealth boosted its position in shares of FirstEnergy by 1.4% in the fourth quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock worth $835,000 after buying an additional 272 shares during the period. Firethorn Wealth Partners LLC boosted its position in shares of FirstEnergy by 5.5% in the first quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider's stock worth $222,000 after buying an additional 287 shares during the period. Finally, Tranquility Partners LLC boosted its position in shares of FirstEnergy by 1.7% in the first quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider's stock worth $734,000 after buying an additional 297 shares during the period. 89.41% of the stock is owned by institutional investors.

Insider Transactions at FirstEnergy

In other 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jason Lisowski sold 12,000 shares of FirstEnergy stock in a transaction dated 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 transaction, the chief accounting officer owned 183 shares in the company, valued at $7,680.51. The trade was a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley decreased their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Mizuho set a $43.00 price objective on FirstEnergy in a research report on Monday, April 28th. Wells Fargo & Company lifted their price objective on FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Guggenheim lifted their price objective on FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Monday, April 7th. Finally, Scotiabank reissued an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $46.00.

FirstEnergy Stock Performance

Shares of FirstEnergy stock traded down $0.13 during trading on Friday, reaching $40.40. The company's stock had a trading volume of 2,197,683 shares, compared to its average volume of 3,999,353. 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's fifty day moving average price is $41.01 and its 200-day moving average price is $40.47. The firm has a market cap of $23.32 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.49 and a beta of 0.39. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.97.

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, topping analysts' consensus estimates of $0.60 by $0.07. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, equities research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Company 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.