ProShare Advisors LLC Grows Stock Position in FirstEnergy Corp. (NYSE:FE)

ProShare Advisors LLC boosted its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 45.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,150 shares of the utilities provider's stock after acquiring an additional 36,332 shares during the quarter. ProShare Advisors LLC's holdings in FirstEnergy were worth $4,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FE. Schroder Investment Management Group boosted its stake in shares of FirstEnergy by 56.0% during the fourth quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock valued at $1,933,000 after purchasing an additional 17,506 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in FirstEnergy by 41.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider's stock valued at $1,902,000 after buying an additional 14,129 shares during the period. Whalen Wealth Management Inc. bought a new stake in FirstEnergy in the 4th quarter worth $664,000. Envestnet Portfolio Solutions Inc. increased its position 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 valued at $211,000 after acquiring an additional 797 shares during the period. Finally, Truist Financial Corp raised its stake in shares of FirstEnergy by 19.0% during the fourth quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider's stock valued at $2,483,000 after acquiring an additional 9,979 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

Insider Activity at FirstEnergy

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the company's 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 transaction, the chief financial officer now owns 99,919 shares in the company, valued at approximately $4,299,514.57. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

FirstEnergy Trading Up 0.3%

NYSE FE opened at $42.82 on Tuesday. FirstEnergy Corp. has a 12 month low of $37.58 and a 12 month high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The stock's fifty day moving average price is $40.97 and its 200-day moving average price is $40.60. The stock has a market cap of $24.71 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.07 and a beta of 0.42.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate 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 6.64% and a return on equity of 11.38%. FirstEnergy's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. As a group, equities analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be issued a $0.445 dividend. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. This represents a $1.78 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Wednesday, May 7th. FirstEnergy's payout ratio is presently 94.68%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FE shares. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a research note on Wednesday, April 23rd. Mizuho set a $43.00 target price on FirstEnergy in a research note on Monday, April 28th. Guggenheim upped their target price on FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a report on Monday, April 7th. Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Finally, Wells Fargo & Company upped their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Nine 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.com, the stock presently 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.

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