Larson Financial Group LLC Buys 3,171 Shares of FirstEnergy Corporation (NYSE:FE)

Larson Financial Group LLC boosted its stake in shares of FirstEnergy Corporation (NYSE:FE) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,282 shares of the utilities provider’s stock after buying an additional 3,171 shares during the period. Larson Financial Group LLC’s holdings in FirstEnergy were worth $2,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dakota Wealth Management boosted its stake in FirstEnergy by 3.4% during the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 249 shares during the last quarter. Covestor Ltd boosted its stake in FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 255 shares during the last quarter. Focus Partners Wealth boosted its stake in FirstEnergy by 1.4% during the 4th quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider’s stock valued at $835,000 after purchasing an additional 272 shares during the last quarter. Firethorn Wealth Partners LLC boosted its stake in FirstEnergy by 5.5% during the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider’s stock valued at $222,000 after purchasing an additional 287 shares during the last quarter. Finally, Tranquility Partners LLC boosted its stake in FirstEnergy by 1.7% during the 1st quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 297 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley cut their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 18th. Mizuho set a $43.00 target price on FirstEnergy in a research note on Monday, April 28th. UBS Group set a $44.00 target price on FirstEnergy and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Bank of America upgraded FirstEnergy from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised 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. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, FirstEnergy presently has an average rating of “Hold” and an average price target of $46.00.

Insider Buying and Selling at FirstEnergy

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total value of $516,360.00. Following the transaction, the chief financial officer owned 99,919 shares of the company’s stock, valued at $4,299,514.57. This represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jason Lisowski sold 12,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the completion of the transaction, the chief accounting officer directly owned 183 shares in the company, valued at $7,680.51. This trade represents a 98.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

FirstEnergy Price Performance

NYSE FE opened at $40.41 on Wednesday. The company has a market capitalization of $23.32 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.49 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. The business’s fifty day moving average is $40.91 and its 200 day moving average is $40.48. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

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.