OneDigital Investment Advisors LLC Makes New Investment in FirstEnergy Corporation (NYSE:FE)

OneDigital Investment Advisors LLC purchased a new stake in shares of FirstEnergy Corporation (NYSE:FEFree Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,704 shares of the utilities provider’s stock, valued at approximately $271,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boston Partners raised its stake in FirstEnergy by 73.5% during the 4th quarter. Boston Partners now owns 16,503,080 shares of the utilities provider’s stock worth $656,309,000 after acquiring an additional 6,991,866 shares during the period. Soroban Capital Partners LP raised its stake in FirstEnergy by 60.2% during the 4th quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider’s stock worth $331,795,000 after acquiring an additional 3,133,083 shares during the period. Wealthquest Corp bought a new stake in FirstEnergy during 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 during the period. Finally, 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 during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction, the chief financial officer owned 99,919 shares of the company’s stock, valued at approximately $4,299,514.57. This represents a 10.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 directly owned 183 shares in the company, valued at $7,680.51. The trade was a 98.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company upped their price target on FirstEnergy from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Mizuho set a $43.00 price target on FirstEnergy in a research note on Monday, April 28th. Bank of America upgraded FirstEnergy from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a research note on Friday, April 25th. Finally, UBS Group set a $44.00 price target on FirstEnergy and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.00.

Read Our Latest Research Report on FirstEnergy

FirstEnergy Stock Performance

NYSE:FE opened at $40.40 on Friday. The stock’s fifty day moving average is $41.01 and its 200 day moving average is $40.47. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.97. The firm has a market capitalization of $23.32 billion, a PE ratio of 21.49, a PEG ratio of 2.48 and a beta of 0.39. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.34 and a current ratio of 0.42.

FirstEnergy (NYSE:FEGet Free Report) last released 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. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. FirstEnergy’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts anticipate 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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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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