Amalgamated Bank Increases Holdings in FirstEnergy Corporation (NYSE:FE)

Amalgamated Bank boosted its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,493 shares of the utilities provider’s stock after purchasing an additional 1,507 shares during the quarter. Amalgamated Bank’s holdings in FirstEnergy were worth $4,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FE. Vanguard Group Inc. raised its position in shares of FirstEnergy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 65,843,901 shares of the utilities provider’s stock valued at $2,619,270,000 after buying an additional 508,570 shares during the last quarter. Boston Partners increased its holdings in FirstEnergy by 73.5% in the 4th quarter. Boston Partners now owns 16,503,080 shares of the utilities provider’s stock valued at $656,309,000 after acquiring an additional 6,991,866 shares during the last quarter. Geode Capital Management LLC lifted its stake in FirstEnergy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 12,527,440 shares of the utilities provider’s stock worth $497,009,000 after purchasing an additional 329,049 shares in the last quarter. Soroban Capital Partners LP lifted its stake in 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 purchasing an additional 3,133,083 shares in the last quarter. Finally, Zimmer Partners LP boosted its holdings in shares of FirstEnergy by 33.4% during the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider’s stock valued at $195,672,000 after purchasing an additional 1,232,040 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have recently issued reports on FE. Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a report on Friday, April 25th. Evercore ISI raised their price target on FirstEnergy from $41.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Mizuho set a $43.00 price objective on FirstEnergy in a report on Monday, April 28th. Morgan Stanley lowered their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, June 18th. Finally, UBS Group set a $44.00 price target on shares of FirstEnergy and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.00.

FirstEnergy Price Performance

FirstEnergy stock opened at $39.82 on Friday. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.97. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average price of $41.34 and a 200-day moving average price of $40.45. The firm has a market capitalization of $22.98 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.44 and a beta of 0.39.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data 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 net margin of 7.78% and a return on equity of 11.49%. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy 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.