FirstEnergy Corp. (NYSE:FE) Shares Acquired by Good Life Advisors LLC

Good Life Advisors LLC grew its stake in shares of FirstEnergy Corp. (NYSE:FE) by 112.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,238 shares of the utilities provider’s stock after acquiring an additional 5,942 shares during the quarter. Good Life Advisors LLC’s holdings in FirstEnergy were worth $498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FinTrust Capital Advisors LLC raised its stake in FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 610 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in shares of FirstEnergy by 1,138.9% in the second 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. Strategic Investment Solutions Inc. IL acquired a new stake in shares of FirstEnergy during the second quarter worth about $32,000. Western Pacific Wealth Management LP purchased a new stake in FirstEnergy in the first quarter valued at approximately $36,000. Finally, West Oak Capital LLC acquired a new position in FirstEnergy in the 2nd quarter worth approximately $38,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Trading Up 0.4 %

Shares of NYSE:FE opened at $43.65 on Friday. The firm has a market capitalization of $25.14 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 2.27 and a beta of 0.50. The business’s 50 day moving average price is $43.53 and its 200-day moving average price is $40.72. 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 Corp. has a 1 year low of $34.73 and a 1 year high of $44.97.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $3.47 billion. During the same quarter last year, the business earned $0.47 earnings per share. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 3.89%. FirstEnergy’s dividend payout ratio (DPR) is currently 120.57%.

Wall Street Analyst Weigh In

FE has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday. KeyCorp upped their price target on shares of FirstEnergy from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wells Fargo & Company lifted their price objective on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Argus upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, September 20th. Finally, Scotiabank lifted their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and an average price target of $45.91.

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.