KBC Group NV Sells 22,535 Shares of FirstEnergy Corporation (NYSE:FE)

KBC Group NV cut its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 41.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,625 shares of the utilities provider’s stock after selling 22,535 shares during the period. KBC Group NV’s holdings in FirstEnergy were worth $1,278,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Balanced Wealth Group LLC grew its position in FirstEnergy by 0.9% during the 4th quarter. Balanced Wealth Group LLC now owns 26,991 shares of the utilities provider’s stock worth $1,074,000 after acquiring an additional 250 shares during the last quarter. Covestor Ltd grew its position 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 acquiring an additional 255 shares during the last quarter. Focus Partners Wealth grew its position in FirstEnergy by 1.4% during the 4th quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider’s stock worth $835,000 after acquiring an additional 272 shares during the last quarter. Firethorn Wealth Partners LLC grew its position in FirstEnergy by 5.5% during the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider’s stock worth $222,000 after acquiring an additional 287 shares during the last quarter. Finally, Tranquility Partners LLC grew its position in FirstEnergy by 1.7% during the 1st quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider’s stock worth $734,000 after acquiring an additional 297 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FE shares. Mizuho set a $43.00 price target on FirstEnergy in a research report on Monday, April 28th. Evercore ISI upped their price objective on FirstEnergy from $41.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Wells Fargo & Company upped their price objective on FirstEnergy from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Bank of America raised FirstEnergy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $42.00 to $45.00 in a report on Wednesday, April 23rd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $39.82 on Friday. The company 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. 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 stock’s fifty day simple moving average is $41.34 and its 200 day simple moving average is $40.45.

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

Insider Transactions at FirstEnergy

In other news, CAO Jason Lisowski sold 12,000 shares of the firm’s stock in a transaction dated 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 $7,680.51. This trade represents a 98.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jon Taylor K. sold 12,000 shares of the firm’s stock in a transaction dated 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 $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 currently owned by corporate insiders.

About FirstEnergy

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.