Brookstone Capital Management Has $342,000 Position in FirstEnergy Corp. (NYSE:FE)

Brookstone Capital Management grew its holdings in FirstEnergy Corp. (NYSE:FE) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,710 shares of the utilities provider’s stock after purchasing an additional 488 shares during the period. Brookstone Capital Management’s holdings in FirstEnergy were worth $342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FE. Capital World Investors increased its stake in FirstEnergy by 14.3% in 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 period. UniSuper Management Pty Ltd raised its holdings in shares of FirstEnergy by 63.4% during the first quarter. UniSuper Management Pty Ltd now owns 1,328,210 shares of the utilities provider’s stock worth $51,295,000 after acquiring an additional 515,458 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in FirstEnergy during the second quarter valued at $14,933,000. Susquehanna Fundamental Investments LLC purchased a new position in FirstEnergy in the first quarter valued at about $12,631,000. Finally, Norden Group LLC increased its position in FirstEnergy by 2,741.7% in the 1st quarter. Norden Group LLC now owns 295,936 shares of the utilities provider’s stock worth $11,429,000 after purchasing an additional 285,522 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $43.17 on Tuesday. The company has a market cap of $24.85 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 2.24 and a beta of 0.50. The business has a 50 day moving average price of $43.40 and a 200 day moving average price of $40.61. 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 twelve month low of $34.73 and a twelve month high of $44.97.

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, hitting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the company posted $0.47 earnings per share. Research analysts predict that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s payout ratio is presently 97.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FE. Morgan Stanley lifted their price target on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, September 20th. Barclays raised their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, KeyCorp raised their target price on FirstEnergy from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus target price of $45.82.

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.