Centennial Wealth Advisory LLC Raises Stock Holdings in FirstEnergy Corporation (NYSE:FE)

Centennial Wealth Advisory LLC boosted its stake in FirstEnergy Corporation (NYSE:FE) by 26.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,797 shares of the utilities provider’s stock after acquiring an additional 2,262 shares during the period. Centennial Wealth Advisory LLC’s holdings in FirstEnergy were worth $436,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Boston Partners boosted its stake in FirstEnergy by 73.5% in the 4th quarter. Boston Partners now owns 16,503,080 shares of the utilities provider’s stock worth $656,309,000 after purchasing an additional 6,991,866 shares during the period. Soroban Capital Partners LP raised its position 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 during the period. Zimmer Partners LP lifted its stake in shares of FirstEnergy by 33.4% in the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider’s stock valued at $195,672,000 after acquiring an additional 1,232,040 shares during the last quarter. Amundi boosted its stake in shares of FirstEnergy by 103.8% during the fourth quarter. Amundi now owns 1,843,964 shares of the utilities provider’s stock valued at $73,334,000 after purchasing an additional 939,240 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of FirstEnergy by 118.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,640,808 shares of the utilities provider’s stock worth $65,271,000 after purchasing an additional 888,800 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Insider Activity

In related news, 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 sale, the chief financial officer now owns 99,919 shares of the company’s stock, valued at approximately $4,299,514.57. This trade represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

FirstEnergy Stock Up 0.0%

FirstEnergy stock opened at $39.73 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.42 and a debt-to-equity ratio of 1.53. The firm has a market cap of $22.93 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.44 and a beta of 0.40. The business has a fifty day moving average of $41.66 and a two-hundred day moving average of $40.50. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $44.97.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FE. UBS Group boosted their target price on FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Wells Fargo & Company raised their target price on shares of FirstEnergy from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Evercore ISI boosted their target price on FirstEnergy from $41.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Bank of America upgraded shares of FirstEnergy from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and an average price target of $45.92.

FirstEnergy Company 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.