Continuum Advisory LLC Decreases Holdings in FirstEnergy Corporation (NYSE:FE)

Continuum Advisory LLC trimmed its stake in shares of FirstEnergy Corporation (NYSE:FEFree Report) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,393 shares of the utilities provider’s stock after selling 350 shares during the period. Continuum Advisory LLC’s holdings in FirstEnergy were worth $218,000 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 the stock. Schroder Investment Management Group raised its position in shares of FirstEnergy by 56.0% in the fourth quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider’s stock valued at $1,933,000 after buying an additional 17,506 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in FirstEnergy by 17.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider’s stock worth $211,000 after purchasing an additional 797 shares during the last quarter. Truist Financial Corp increased its position in FirstEnergy by 19.0% during the fourth quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider’s stock worth $2,483,000 after purchasing an additional 9,979 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of FirstEnergy during the fourth quarter valued at about $3,584,000. Finally, Mariner LLC increased its position in shares of FirstEnergy by 16.1% during the fourth quarter. Mariner LLC now owns 95,039 shares of the utilities provider’s stock valued at $3,781,000 after acquiring an additional 13,196 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

Shares of NYSE FE opened at $40.51 on Wednesday. The stock has a market cap of $23.38 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.48 and a beta of 0.40. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $44.97. The company’s 50-day moving average price is $41.62 and its 200 day moving average price is $40.46. 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:FEGet Free Report) last released its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 7.78% and a return on equity of 11.49%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. As a group, research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jason Lisowski sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total transaction of $503,640.00. Following the completion of the sale, the chief accounting officer now owns 183 shares of the company’s stock, valued at approximately $7,680.51. This represents a 98.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Guggenheim lifted their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, April 7th. Mizuho set a $43.00 price objective on shares of FirstEnergy in a report on Monday, April 28th. Morgan Stanley decreased their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. Evercore ISI lifted their price target on shares of FirstEnergy from $41.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, UBS Group boosted their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.00.

View Our Latest Analysis on FirstEnergy

About FirstEnergy

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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