Wells Trecaso Financial Group LLC Has $469,000 Stock Position in FirstEnergy Corporation (NYSE:FE)

Wells Trecaso Financial Group LLC raised its stake in shares of FirstEnergy Corporation (NYSE:FE) by 7.4% during the first quarter, Holdings Channel reports. The firm owned 11,596 shares of the utilities provider’s stock after buying an additional 796 shares during the period. Wells Trecaso Financial Group LLC’s holdings in FirstEnergy were worth $469,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Boston Partners boosted its holdings in shares of FirstEnergy by 73.5% in 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 in the last quarter. 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 worth $331,795,000 after acquiring an additional 3,133,083 shares in the last quarter. Zimmer Partners LP boosted its holdings in shares of 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 acquiring an additional 1,232,040 shares in the last quarter. Amundi boosted its holdings in shares of FirstEnergy by 103.8% in the 4th quarter. Amundi now owns 1,843,964 shares of the utilities provider’s stock worth $73,334,000 after acquiring an additional 939,240 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 888,800 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Jon Taylor K. sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total value of $516,360.00. Following the completion of the transaction, the chief financial officer now owns 99,919 shares of the company’s stock, valued at $4,299,514.57. The trade was a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FE. Evercore ISI boosted their price objective on shares of FirstEnergy from $41.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. UBS Group boosted their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Mizuho set a $43.00 price objective on shares of FirstEnergy in a research report on Monday, April 28th. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a research report on Friday, April 25th. Finally, Bank of America upgraded shares of FirstEnergy from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $42.00 to $45.00 in a research report on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $39.70 on Wednesday. The firm has a fifty day moving average of $41.66 and a two-hundred day moving average of $40.51. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.45 and a beta of 0.40. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $44.97. 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:FE) last issued its 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. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities research analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

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.