Victory Capital Management Inc. Has $48.45 Million Position in FirstEnergy Corporation (NYSE:FE)

Victory Capital Management Inc. boosted its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,198,628 shares of the utilities provider's stock after buying an additional 140,197 shares during the period. Victory Capital Management Inc. owned about 0.21% of FirstEnergy worth $48,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FE. Covestor Ltd boosted its holdings in FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 255 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of FirstEnergy during the 4th quarter worth approximately $26,000. TruNorth Capital Management LLC lifted its holdings in shares of FirstEnergy by 226.9% during the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after acquiring an additional 490 shares during the period. Bernard Wealth Management Corp. bought a new position in FirstEnergy in the 4th quarter valued at approximately $31,000. Finally, Tsfg LLC increased its position in FirstEnergy by 143.6% in the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 632 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the stock in a transaction 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 directly owned 99,919 shares in the company, valued at $4,299,514.57. This represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jason Lisowski sold 12,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total value of $503,640.00. Following the transaction, the chief accounting officer owned 183 shares of the company's stock, valued at $7,680.51. This represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company's stock.

FirstEnergy Stock Performance

Shares of NYSE FE traded up $0.31 during midday trading on Monday, reaching $41.09. 2,686,273 shares of the company traded hands, compared to its average volume of 4,032,282. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $44.97. The stock has a 50-day moving average price of $40.78 and a 200 day moving average price of $40.50. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. The company has a market cap of $23.71 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.51 and a beta of 0.39.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. Sell-side analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on FE shares. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Guggenheim lifted their price objective 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 raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. 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. Finally, KeyCorp reaffirmed an "overweight" rating and set a $46.00 target price (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $45.92.

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.