PharVision Advisers LLC Makes New $690,000 Investment in FirstEnergy Corp. (NYSE:FE)

PharVision Advisers LLC purchased a new position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,333 shares of the utilities provider's stock, valued at approximately $690,000. FirstEnergy makes up 0.6% of PharVision Advisers LLC's holdings, making the stock its 18th largest holding.

A number of other large investors also recently modified their holdings of FE. Schroder Investment Management Group boosted its position in FirstEnergy by 56.0% during the 4th quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock worth $1,933,000 after buying an additional 17,506 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of FirstEnergy by 41.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider's stock worth $1,902,000 after purchasing an additional 14,129 shares during the period. Whalen Wealth Management Inc. bought a new stake in shares of FirstEnergy in the fourth quarter worth $664,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of 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 purchasing an additional 797 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in FirstEnergy by 19.0% in the fourth quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider's stock valued at $2,483,000 after purchasing an additional 9,979 shares during the period. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Up 0.3%

Shares of NYSE:FE traded up $0.12 during mid-day trading on Monday, hitting $42.11. The company had a trading volume of 4,250,831 shares, compared to its average volume of 3,693,801. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a one year low of $37.58 and a one year high of $44.97. The firm has a fifty day moving average price of $41.18 and a 200 day moving average price of $40.62. The company has a market capitalization of $24.30 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.42.

FirstEnergy (NYSE:FE - Get Free Report) last posted 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. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business's revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, research analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. This is an increase from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.23%. FirstEnergy's payout ratio is currently 94.68%.

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 shares were 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 now directly owns 99,919 shares in the company, valued at $4,299,514.57. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FE has been the topic of several recent research reports. Morgan Stanley reaffirmed an "overweight" rating and set a $48.00 target price (up from $47.00) on shares of FirstEnergy in a report on Thursday. Mizuho set a $43.00 price objective on FirstEnergy in a research report on Monday, April 28th. Bank of America upgraded FirstEnergy from an "underperform" rating to a "neutral" rating and upped their target price for the company from $42.00 to $45.00 in a report on Wednesday, April 23rd. Scotiabank reissued an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Finally, UBS Group boosted their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, FirstEnergy currently has an average rating of "Hold" and a consensus target price of $46.00.

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.