FirstEnergy Corporation (NYSE:FE) Stock Position Reduced by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC lessened its position in shares of FirstEnergy Corporation (NYSE:FE) by 23.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,745 shares of the utilities provider’s stock after selling 4,102 shares during the period. Schechter Investment Advisors LLC’s holdings in FirstEnergy were worth $556,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock worth $25,000 after buying an additional 255 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of FirstEnergy in the 4th quarter worth approximately $26,000. Bernard Wealth Management Corp. bought a new stake in shares of FirstEnergy in the 4th quarter worth approximately $31,000. Tsfg LLC lifted its holdings in shares of FirstEnergy by 143.6% in the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 632 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of FirstEnergy by 179.8% in the 1st quarter. Versant Capital Management Inc now owns 1,192 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 766 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Insider Buying and Selling at FirstEnergy

In other news, CFO Jon Taylor K. sold 12,000 shares of FirstEnergy 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 directly owned 99,919 shares in the company, valued at approximately $4,299,514.57. This trade represents a 10.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jason Lisowski sold 12,000 shares of FirstEnergy 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 transaction, the chief accounting officer owned 183 shares in the company, valued at approximately $7,680.51. This trade represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FE has been the topic of several recent research reports. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Scotiabank reissued an “outperform” rating on shares of FirstEnergy in a report on Friday, April 25th. Guggenheim raised their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, April 7th. Mizuho set a $43.00 price target on FirstEnergy in a report on Monday, April 28th. 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 report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.00.

FirstEnergy Stock Up 0.2%

Shares of FirstEnergy stock opened at $40.47 on Tuesday. The business’s fifty day moving average price is $40.96 and its two-hundred day moving average price is $40.48. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. The company has a market capitalization of $23.35 billion, a P/E ratio of 21.52, a PEG ratio of 2.48 and a beta of 0.39. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) 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 analysts’ expectations of $3.68 billion. During the same period last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, research analysts forecast that FirstEnergy Corporation will post 2.66 EPS 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.