FirstEnergy Corp. (NYSE:FE) Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its position in FirstEnergy Corp. (NYSE:FE) by 28.9% in the second quarter, HoldingsChannel.com reports. The firm owned 577,589 shares of the utilities provider’s stock after purchasing an additional 129,444 shares during the quarter. Sei Investments Co.’s holdings in FirstEnergy were worth $22,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC lifted its holdings in shares of FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the period. ST Germain D J Co. Inc. grew its stake in shares of FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 615 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $31,000. Sachetta LLC raised its holdings in shares of FirstEnergy by 36.0% in the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in FirstEnergy during the first quarter valued at approximately $36,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of FE opened at $43.79 on Thursday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. The company has a market capitalization of $25.20 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 2.32 and a beta of 0.50. The business’s 50-day moving average is $42.70 and its 200-day moving average is $40.10. FirstEnergy Corp. has a fifty-two week low of $32.18 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. Equities research analysts expect that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 3.88%. FirstEnergy’s dividend payout ratio (DPR) is currently 97.70%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FE shares. KeyCorp lifted their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley lifted their target price on FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday. Scotiabank upped their target price on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price objective on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, FirstEnergy has a consensus rating of “Hold” and an average target price of $44.45.

FirstEnergy 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.