San Luis Wealth Advisors LLC Invests $443,000 in FirstEnergy Corporation (NYSE:FE)

San Luis Wealth Advisors LLC bought a new stake in FirstEnergy Corporation (NYSE:FE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,952 shares of the utilities provider's stock, valued at approximately $443,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FE. Covestor Ltd grew its stake in shares of FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after acquiring an additional 255 shares in the last quarter. Kestra Investment Management LLC acquired a new position in FirstEnergy during the fourth quarter worth $26,000. Lee Danner & Bass Inc. bought a new position in FirstEnergy in the fourth quarter valued at $26,000. Bernard Wealth Management Corp. acquired a new stake in FirstEnergy in the 4th quarter valued at $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in FirstEnergy in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 89.41% of the company's stock.

Insider Transactions at FirstEnergy

In other news, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the completion of the sale, the chief accounting officer now owns 183 shares of the company's stock, valued at approximately $7,680.51. The trade was a 98.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FE shares. Morgan Stanley decreased their price objective on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday. Bank of America raised FirstEnergy from an "underperform" rating to a "neutral" rating and increased their price target for the company from $42.00 to $45.00 in a research report on Wednesday, April 23rd. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. 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, Mizuho set a $43.00 target price on shares of FirstEnergy in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of "Hold" and a consensus target price of $45.92.

FirstEnergy Stock Performance

FE stock traded up $0.16 during midday trading on Friday, reaching $39.90. 5,596,290 shares of the company were exchanged, compared to its average volume of 3,906,056. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.97. The firm has a market capitalization of $23.03 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.44 and a beta of 0.40. The business has a 50-day moving average price of $41.66 and a two-hundred day moving average price of $40.49. 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 (NYSE:FE - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. FirstEnergy's revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current year.

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.