FirstEnergy Corp. (NYSE:FE) CAO Jason Lisowski Sells 12,000 Shares of Stock

FirstEnergy Corp. (NYSE:FE) CAO Jason Lisowski sold 12,000 shares of the firm’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 sale, the chief accounting officer now owns 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 legal filing with the SEC, which is available through this link.

FirstEnergy Stock Down 2.1%

Shares of FE opened at $41.21 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The company has a 50-day moving average price of $41.31 and a two-hundred day moving average price of $40.63. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 2.07 and a beta of 0.42. FirstEnergy Corp. has a 12 month low of $37.58 and a 12 month high of $44.97.

FirstEnergy (NYSE:FE) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $3.68 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.55 EPS. Equities analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be paid a dividend of $0.445 per share. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Wednesday, May 7th. FirstEnergy’s dividend payout ratio is currently 94.68%.

Analysts Set New Price Targets

FE has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of FirstEnergy from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a research report on Friday, April 25th. Evercore ISI lifted their target price on FirstEnergy from $41.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Guggenheim boosted their price target on FirstEnergy from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, April 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $48.00 price objective (up previously from $47.00) on shares of FirstEnergy in a research report on Thursday, May 22nd. Nine 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 a consensus rating of “Hold” and an average price target of $46.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of FirstEnergy during the 1st quarter worth about $2,269,000. Intrua Financial LLC bought a new stake in FirstEnergy during the first quarter worth about $215,000. Geneos Wealth Management Inc. increased its holdings in shares of FirstEnergy by 13.8% during the first quarter. Geneos Wealth Management Inc. now owns 7,842 shares of the utilities provider’s stock worth $317,000 after buying an additional 950 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of FirstEnergy by 63.5% in the first quarter. Intech Investment Management LLC now owns 48,719 shares of the utilities provider’s stock valued at $1,969,000 after acquiring an additional 18,927 shares during the last quarter. Finally, Focus Partners Wealth raised its stake in shares of FirstEnergy by 6.8% in the first quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider’s stock valued at $856,000 after acquiring an additional 1,340 shares during the last quarter. 89.41% of the stock is owned by institutional investors.

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.