FirstEnergy Corporation (NYSE:FE) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC grew its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 1,652.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. 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.

A number of other large investors have also modified their holdings of the business. Concurrent Investment Advisors LLC raised its stake in shares of FirstEnergy by 4.2% in the first quarter. Concurrent Investment Advisors LLC now owns 8,123 shares of the utilities provider's stock worth $328,000 after purchasing an additional 331 shares during the last quarter. HM Payson & Co. increased its holdings in FirstEnergy by 35.1% in the 1st quarter. HM Payson & Co. now owns 2,431 shares of the utilities provider's stock worth $98,000 after buying an additional 631 shares during the period. Catalyst Capital Advisors LLC purchased a new position in FirstEnergy during the 1st quarter worth approximately $85,000. IFM Investors Pty Ltd lifted its stake in FirstEnergy by 7.0% during the 1st quarter. IFM Investors Pty Ltd now owns 202,920 shares of the utilities provider's stock valued at $9,000,000 after acquiring an additional 13,272 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new stake in FirstEnergy during the 1st quarter valued at approximately $271,000. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Trading Up 0.9%

NYSE FE traded up $0.36 on Thursday, reaching $40.51. 3,030,028 shares of the company were exchanged, compared to its average volume of 3,994,769. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53. The business's fifty day moving average price is $41.11 and its 200 day moving average price is $40.46. The stock has a market capitalization of $23.38 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 2.45 and a beta of 0.39. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results 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 company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.68 billion. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. FirstEnergy's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. Analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Evercore ISI boosted their price target on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Mizuho set a $43.00 price target on FirstEnergy in a report on Monday, April 28th. Wells Fargo & Company raised their price objective on FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Finally, Morgan Stanley reduced their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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 dated Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total transaction of $503,640.00. Following the completion of the transaction, the chief accounting officer owned 183 shares of the company's stock, valued at $7,680.51. This trade represents a 98.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jon Taylor K. sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total transaction of $516,360.00. Following the completion of the transaction, the chief financial officer owned 99,919 shares in the company, valued at approximately $4,299,514.57. This represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

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.