14,805 Shares in FirstEnergy Corp. (NYSE:FE) Acquired by Visionary Horizons LLC

Visionary Horizons LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,805 shares of the utilities provider's stock, valued at approximately $598,000.

Other large investors have also added to or reduced their stakes in the company. Schroder Investment Management Group grew its position in FirstEnergy by 56.0% during the fourth 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 acquiring an additional 14,129 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of FirstEnergy by 17.6% during 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 in the last quarter. Truist Financial Corp increased its position in shares of FirstEnergy by 19.0% in the fourth quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider's stock worth $2,483,000 after purchasing an additional 9,979 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in FirstEnergy in the fourth quarter valued at approximately $3,584,000. Institutional investors own 89.41% of the company's stock.

Insider Buying and Selling at FirstEnergy

In related news, CFO Jon Taylor K. sold 12,000 shares of the business'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 directly owns 99,919 shares in the company, valued at approximately $4,299,514.57. The trade was 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 the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on FE. Guggenheim increased their target price on FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Mizuho set a $43.00 price objective on FirstEnergy in a report on Monday, April 28th. Morgan Stanley reaffirmed an "overweight" rating and issued a $48.00 target price (up previously from $47.00) on shares of FirstEnergy in a research note on Thursday, May 22nd. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, UBS Group upped their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $46.00.

FirstEnergy Stock Down 0.9%

Shares of FE traded down $0.36 during midday trading on Friday, reaching $40.31. 3,850,510 shares of the stock were exchanged, compared to its average volume of 3,850,121. The company has a market capitalization of $23.27 billion, a P/E ratio of 26.01, a PEG ratio of 2.07 and a beta of 0.40. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 52 week low of $37.58 and a 52 week high of $44.97. The company's 50 day moving average is $41.59 and its two-hundred day moving average is $40.58.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 11.38% and a net margin of 6.64%. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. On average, sell-side analysts anticipate that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 7th were given a dividend of $0.445 per share. This is a boost from FirstEnergy's previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Wednesday, May 7th. FirstEnergy's dividend payout ratio (DPR) is currently 94.68%.

About FirstEnergy

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.