United Services Automobile Association Cuts Stock Position in FirstEnergy Corp. (NYSE:FE)

United Services Automobile Association lessened its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 7.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,798 shares of the utilities provider’s stock after selling 945 shares during the quarter. United Services Automobile Association’s holdings in FirstEnergy were worth $452,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Choreo LLC acquired a new stake in FirstEnergy during the 2nd quarter worth approximately $430,000. Wedbush Securities Inc. raised its stake in shares of FirstEnergy by 5.7% in the second quarter. Wedbush Securities Inc. now owns 6,062 shares of the utilities provider’s stock valued at $232,000 after acquiring an additional 327 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of FirstEnergy in the second quarter valued at $38,000. PFG Investments LLC boosted its holdings in FirstEnergy by 16.6% in the second quarter. PFG Investments LLC now owns 18,918 shares of the utilities provider’s stock valued at $724,000 after purchasing an additional 2,690 shares during the period. Finally, Quest Partners LLC acquired a new position in FirstEnergy during the 2nd quarter worth $1,889,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FE has been the topic of a number of analyst reports. KeyCorp increased their price target on FirstEnergy from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Bank of America lifted their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company raised their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Barclays boosted their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.50.

FirstEnergy Trading Down 0.3 %

FE opened at $44.15 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $44.97. The business’s 50 day moving average is $41.80 and its two-hundred day moving average is $39.65. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates 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 company posted $0.47 EPS. On average, research analysts predict that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Wednesday, August 7th. FirstEnergy’s dividend payout ratio is presently 97.70%.

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.