Mirae Asset Global Investments Co. Ltd. Buys 8,467 Shares of FirstEnergy Corporation (NYSE:FE)

Mirae Asset Global Investments Co. Ltd. lifted its stake in FirstEnergy Corporation (NYSE:FE) by 17.7% during the first quarter, Holdings Channel reports. The fund owned 56,423 shares of the utilities provider’s stock after acquiring an additional 8,467 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in FirstEnergy were worth $2,260,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Old North State Wealth Management LLC raised its stake in shares of FirstEnergy by 24.3% in the 1st quarter. Old North State Wealth Management LLC now owns 11,075 shares of the utilities provider’s stock valued at $448,000 after acquiring an additional 2,165 shares in the last quarter. Park Place Capital Corp bought a new position in shares of FirstEnergy in the 1st quarter valued at approximately $129,000. Tranquility Partners LLC raised its stake in shares of FirstEnergy by 1.7% in the 1st quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 297 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of FirstEnergy by 8.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 9,681 shares of the utilities provider’s stock valued at $391,000 after acquiring an additional 727 shares in the last quarter. Finally, Wealthquest Corp bought a new position in shares of FirstEnergy in the 1st quarter valued at approximately $53,169,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $39.82 on Friday. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $44.97. The firm has a market capitalization of $22.98 billion, a PE ratio of 21.18, a PEG ratio of 2.44 and a beta of 0.39. The business’s 50 day moving average is $41.34 and its 200-day moving average is $40.45. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. FirstEnergy’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. Sell-side analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

Insider Buying and Selling at FirstEnergy

In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of FirstEnergy stock in a transaction on Thursday, May 22nd. The stock was 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 owned 183 shares in the company, valued at approximately $7,680.51. The trade was a 98.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jon Taylor K. sold 12,000 shares of FirstEnergy 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 owned 99,919 shares of the company’s stock, valued at approximately $4,299,514.57. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of FirstEnergy in a research note on Friday, April 25th. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Guggenheim lifted their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, April 7th. Wells Fargo & Company lifted their price target on FirstEnergy from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Finally, Bank of America raised FirstEnergy from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $42.00 to $45.00 in a research report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and an average price target of $46.00.

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.