FirstEnergy Corporation (NYSE:FE) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 117.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 186,846 shares of the utilities provider's stock after purchasing an additional 101,039 shares during the period. Wealthfront Advisers LLC's holdings in FirstEnergy were worth $7,552,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FE. Soroban Capital Partners LP boosted its holdings in shares of FirstEnergy by 60.2% in the 4th quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock valued at $331,795,000 after buying an additional 3,133,083 shares in the last quarter. Wealthquest Corp acquired a new stake in FirstEnergy in the 1st quarter worth approximately $53,169,000. Zimmer Partners LP boosted its stake in FirstEnergy by 33.4% in the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock worth $195,672,000 after purchasing an additional 1,232,040 shares in the last quarter. Renaissance Technologies LLC boosted its stake in FirstEnergy by 118.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,640,808 shares of the utilities provider's stock worth $65,271,000 after purchasing an additional 888,800 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in FirstEnergy in the 4th quarter worth approximately $30,069,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

FE traded up $0.23 on Friday, hitting $40.78. 2,733,502 shares of the company's stock were exchanged, compared to its average volume of 4,029,554. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.97. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average price of $40.78 and a 200-day moving average price of $40.49. The stock has a market cap of $23.54 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 2.49 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 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.68 billion. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The company's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, equities analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

Insider Transactions at FirstEnergy

In other FirstEnergy 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was 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 in the company, valued at $7,680.51. This trade represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FE has been the subject of a number of recent analyst reports. Bank of America upgraded shares of FirstEnergy from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. KeyCorp reissued an "overweight" rating and set a $46.00 price target (down from $47.00) on shares of FirstEnergy in a research report on Wednesday. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Morgan Stanley reduced their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Finally, Scotiabank reissued an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.