TI Trust Inc. Sells 320 Shares of FirstEnergy Corporation (NYSE:FE)

TI Trust Inc. lessened its position in shares of FirstEnergy Corporation (NYSE:FE) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,865 shares of the utilities provider’s stock after selling 320 shares during the period. TI Trust Inc.’s holdings in FirstEnergy were worth $399,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. HBK Sorce Advisory LLC grew its holdings 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. Wealthquest Corp acquired a new position in shares of FirstEnergy during the 1st quarter worth approximately $53,169,000. Cornerstone Wealth Group LLC boosted its holdings in shares of FirstEnergy by 7.2% in the 1st quarter. Cornerstone Wealth Group LLC now owns 97,675 shares of the utilities provider’s stock valued at $3,948,000 after buying an additional 6,574 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in FirstEnergy by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider’s stock worth $718,000 after buying an additional 1,464 shares during the last quarter. Finally, Longboard Asset Management LP acquired a new stake in FirstEnergy in the first quarter valued at $201,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Down 1.4%

FE opened at $39.96 on Thursday. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.49 and a beta of 0.40. The company has a quick ratio of 0.34, a current ratio of 0.42 and a debt-to-equity ratio of 1.53. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $44.97. The company has a 50-day simple moving average of $41.60 and a 200 day simple moving average of $40.46.

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

Wall Street Analysts Forecast Growth

FE has been the subject of a number of recent analyst reports. Bank of America raised 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 report on Wednesday, April 23rd. Evercore ISI upped their price objective on shares of FirstEnergy from $41.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a research report on Friday, April 25th. Morgan Stanley decreased their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company boosted their price target on FirstEnergy from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, FirstEnergy has an average rating of “Hold” and an average target price of $46.00.

Insider Activity at FirstEnergy

In related news, 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 sale, the chief accounting officer now owns 183 shares of the company’s stock, valued at $7,680.51. This trade represents a 98.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by 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.