Mather Group LLC. Sells 522 Shares of FirstEnergy Corp. (NYSE:FE)

Mather Group LLC. decreased its stake in FirstEnergy Corp. (NYSE:FE) by 16.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,728 shares of the utilities provider’s stock after selling 522 shares during the period. Mather Group LLC.’s holdings in FirstEnergy were worth $121,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors lifted its position in shares of FirstEnergy by 14.3% during the 1st quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock valued at $3,009,615,000 after buying an additional 9,773,785 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in shares of FirstEnergy by 63.4% in the first quarter. UniSuper Management Pty Ltd now owns 1,328,210 shares of the utilities provider’s stock worth $51,295,000 after purchasing an additional 515,458 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of FirstEnergy in the second quarter valued at approximately $14,933,000. Susquehanna Fundamental Investments LLC bought a new position in FirstEnergy in the 1st quarter worth approximately $12,631,000. Finally, Norden Group LLC grew its stake in FirstEnergy by 2,741.7% in the 1st quarter. Norden Group LLC now owns 295,936 shares of the utilities provider’s stock valued at $11,429,000 after buying an additional 285,522 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FE has been the topic of several recent research reports. KeyCorp increased their target price on FirstEnergy from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Argus upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, September 20th. Bank of America increased their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Scotiabank increased their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.80.

FirstEnergy Stock Up 0.9 %

Shares of NYSE FE opened at $42.71 on Friday. The stock has a market capitalization of $24.58 billion, a P/E ratio of 24.55, a PEG ratio of 2.24 and a beta of 0.50. FirstEnergy Corp. has a one year low of $34.73 and a one year high of $44.97. The firm’s 50 day simple moving average is $43.37 and its two-hundred day simple moving average is $40.56. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the firm earned $0.47 earnings per share. As a group, analysts expect that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is 97.70%.

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.