Nomura Asset Management Co. Ltd. raised its position in FirstEnergy Corporation (NYSE:FE – Free Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,254 shares of the utilities provider’s stock after buying an additional 13,616 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in FirstEnergy were worth $9,906,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. MUFG Securities EMEA plc grew its holdings in shares of FirstEnergy by 114.4% during the 4th quarter. MUFG Securities EMEA plc now owns 21,328 shares of the utilities provider’s stock worth $955,000 after purchasing an additional 11,381 shares in the last quarter. Holderness Investments Co. acquired a new stake in shares of FirstEnergy during the 4th quarter worth $1,259,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of FirstEnergy during the 4th quarter worth $123,018,000. National Pension Service grew its holdings in shares of FirstEnergy by 4.2% during the 4th quarter. National Pension Service now owns 929,641 shares of the utilities provider’s stock worth $41,620,000 after purchasing an additional 37,502 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of FirstEnergy by 19.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 20,646 shares of the utilities provider’s stock worth $924,000 after purchasing an additional 3,330 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.
FirstEnergy Price Performance
Shares of FE stock opened at $45.33 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 1.87. FirstEnergy Corporation has a twelve month low of $39.28 and a twelve month high of $52.34. The company has a market cap of $26.22 billion, a P/E ratio of 24.63, a P/E/G ratio of 2.17 and a beta of 0.47. The business has a fifty day simple moving average of $48.18 and a 200 day simple moving average of $47.54.
Analyst Upgrades and Downgrades
FE has been the topic of several analyst reports. Wells Fargo & Company reissued an “overweight” rating and set a $55.00 target price on shares of FirstEnergy in a report on Tuesday, April 21st. Weiss Ratings lowered FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. increased their target price on FirstEnergy from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and reduced their target price for the stock from $56.00 to $53.00 in a report on Friday, May 15th. Finally, Wolfe Research lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.69.
Insider Buying and Selling at FirstEnergy
In other FirstEnergy news, Director James F. Oneil sold 7,945 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $50.60, for a total value of $402,017.00. Following the completion of the transaction, the director directly owned 1,869 shares in the company, valued at approximately $94,571.40. This trade represents a 80.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jon Taylor K. sold 26,800 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $50.94, for a total value of $1,365,192.00. Following the completion of the transaction, the chief financial officer owned 119,552 shares of the company’s stock, valued at $6,089,978.88. This represents a 18.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 39,118 shares of company stock worth $1,989,532. 0.14% of the stock is currently owned by insiders.
FirstEnergy Profile
FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.
FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.
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