Spire Wealth Management lessened its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 85.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,503 shares of the utilities provider's stock after selling 15,246 shares during the period. Spire Wealth Management's holdings in FirstEnergy were worth $101,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Wealthquest Corp acquired a new position in shares of FirstEnergy during the 1st quarter worth about $53,169,000. Cornerstone Wealth Group LLC increased its position in FirstEnergy by 7.2% during the first quarter. Cornerstone Wealth Group LLC now owns 97,675 shares of the utilities provider's stock worth $3,948,000 after buying an additional 6,574 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in FirstEnergy by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider's stock worth $718,000 after buying an additional 1,464 shares during the last quarter. Longboard Asset Management LP bought a new stake in FirstEnergy in the first quarter valued at approximately $201,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of FirstEnergy by 14.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider's stock valued at $2,883,000 after buying an additional 8,879 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.
Insider Activity
In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total transaction of $503,640.00. Following the sale, the chief accounting officer owned 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jon Taylor K. sold 12,000 shares of the company's 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 completion of the transaction, the chief financial officer directly owned 99,919 shares of the company's stock, valued at approximately $4,299,514.57. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms recently weighed in on FE. Mizuho set a $43.00 price target on FirstEnergy in a research note on Monday, April 28th. UBS Group set a $44.00 price objective on shares of FirstEnergy and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Guggenheim raised their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday, April 7th. Bank of America upgraded shares of FirstEnergy from an "underperform" rating to a "neutral" rating and upped their price target for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $46.00.
Read Our Latest Stock Report on FE
FirstEnergy Price Performance
Shares of NYSE:FE traded down $0.62 during trading on Wednesday, reaching $39.76. 5,212,179 shares of the company traded hands, compared to its average volume of 3,972,511. The company has a quick ratio of 0.34, a current ratio of 0.42 and a debt-to-equity ratio of 1.53. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $44.97. The firm has a market capitalization of $22.95 billion, a PE ratio of 21.15, a PEG ratio of 2.48 and a beta of 0.39. The company's 50 day moving average is $41.45 and its two-hundred day moving average is $40.45.
FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.07. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The business's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.
About FirstEnergy
(
Free Report)
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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