Insight Wealth Strategies LLC Boosts Stock Position in FirstEnergy Corp. (NYSE:FE)

Insight Wealth Strategies LLC boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 163.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,644 shares of the utilities provider’s stock after acquiring an additional 19,008 shares during the quarter. Insight Wealth Strategies LLC’s holdings in FirstEnergy were worth $1,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. E Fund Management Co. Ltd. purchased a new position in FirstEnergy during the 1st quarter valued at $33,000. Norinchukin Bank The lifted its holdings in shares of FirstEnergy by 1.7% in the 1st quarter. Norinchukin Bank The now owns 45,158 shares of the utilities provider’s stock worth $1,567,000 after buying an additional 751 shares during the period. Sun Life Financial INC lifted its holdings in shares of FirstEnergy by 53.8% in the 1st quarter. Sun Life Financial INC now owns 9,203 shares of the utilities provider’s stock worth $319,000 after buying an additional 3,218 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of FirstEnergy by 37.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,040,837 shares of the utilities provider’s stock worth $155,907,000 after buying an additional 1,360,772 shares during the period. Finally, Bollard Group LLC lifted its holdings in shares of FirstEnergy by 11.3% in the 1st quarter. Bollard Group LLC now owns 155,654 shares of the utilities provider’s stock worth $5,400,000 after buying an additional 15,849 shares during the period. Institutional investors own 81.87% of the company’s stock.

Shares of NYSE:FE opened at $38.59 on Friday. The company’s 50-day simple moving average is $37.02. FirstEnergy Corp. has a 1 year low of $22.85 and a 1 year high of $42.35. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 15.58 and a beta of 0.24. The company has a quick ratio of 0.62, a current ratio of 0.69 and a debt-to-equity ratio of 3.02.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, April 21st. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.01. FirstEnergy had a return on equity of 18.17% and a net margin of 12.40%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that FirstEnergy Corp. will post 2.52 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 7th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.04%. The ex-dividend date was Thursday, May 6th. FirstEnergy’s dividend payout ratio is currently 65.27%.

Several brokerages have weighed in on FE. Mizuho upped their target price on FirstEnergy from $32.00 to $33.00 in a report on Friday, February 19th. Barclays upped their target price on FirstEnergy from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 25th. Morgan Stanley upped their target price on FirstEnergy from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, May 18th. Finally, Bank of America raised FirstEnergy from a “neutral” rating to a “buy” rating in a research report on Monday, March 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. FirstEnergy presently has a consensus rating of “Hold” and an average price target of $38.90.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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