Rhumbline Advisers Has $36.80 Million Position in FirstEnergy Corp. (NYSE:FE)

Rhumbline Advisers lifted its stake in FirstEnergy Corp. (NYSE:FE) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 961,533 shares of the utilities provider’s stock after purchasing an additional 2,826 shares during the period. Rhumbline Advisers owned 0.17% of FirstEnergy worth $36,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. increased its holdings in shares of FirstEnergy by 6.2% in the first quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider’s stock valued at $193,000 after purchasing an additional 290 shares in the last quarter. Marcum Wealth LLC increased its holdings in shares of FirstEnergy by 3.8% in the first quarter. Marcum Wealth LLC now owns 7,973 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 295 shares in the last quarter. Greenleaf Trust increased its holdings in shares of FirstEnergy by 3.1% in the first quarter. Greenleaf Trust now owns 9,736 shares of the utilities provider’s stock valued at $376,000 after purchasing an additional 295 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of FirstEnergy by 16.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,243 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 312 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of FirstEnergy by 3.6% in the first quarter. Bessemer Group Inc. now owns 9,139 shares of the utilities provider’s stock valued at $353,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

FE has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of FirstEnergy from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America lifted their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. KeyCorp lifted their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Scotiabank lifted their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, Mizuho lifted their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.27.

FirstEnergy Price Performance

Shares of FE stock opened at $44.47 on Friday. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $44.97. The firm has a market capitalization of $25.59 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The firm has a fifty day moving average of $41.32 and a 200-day moving average of $39.44.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period in the previous year, the firm posted $0.47 EPS. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.71 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.425 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 annualized dividend and a yield of 3.82%. FirstEnergy’s dividend payout ratio is currently 97.70%.

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.