Strategic Investment Solutions Inc. IL Invests $32,000 in FirstEnergy Corp. (NYSE:FE)

Strategic Investment Solutions Inc. IL acquired a new stake in FirstEnergy Corp. (NYSE:FE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 768 shares of the utilities provider’s stock, valued at approximately $32,000.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on FE. Wells Fargo & Company raised their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their target price on shares of FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Scotiabank increased their price target on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Bank of America lifted their price objective on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, Barclays increased their target price on FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.55.

FirstEnergy Stock Down 1.4 %

Shares of FirstEnergy stock opened at $43.42 on Friday. FirstEnergy Corp. has a twelve month low of $32.97 and a twelve month high of $44.97. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. The company has a fifty day moving average price of $43.27 and a 200 day moving average price of $40.36.

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

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.92%. FirstEnergy’s 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.