Kingsview Wealth Management LLC Purchases New Shares in FirstEnergy Corp. (NYSE:FE)

Kingsview Wealth Management LLC acquired a new stake in FirstEnergy Corp. (NYSE:FE) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 5,386 shares of the utilities provider’s stock, valued at approximately $239,000.

A number of other institutional investors also recently modified their holdings of FE. Tidal Investments LLC increased its holdings in shares of FirstEnergy by 8.4% in the first quarter. Tidal Investments LLC now owns 13,083 shares of the utilities provider’s stock valued at $505,000 after purchasing an additional 1,019 shares in the last quarter. Atria Investments Inc raised its position in shares of FirstEnergy by 8.4% during the first quarter. Atria Investments Inc now owns 33,899 shares of the utilities provider’s stock worth $1,309,000 after acquiring an additional 2,634 shares during the last quarter. Cetera Investment Advisers boosted its holdings in FirstEnergy by 550.6% in the first quarter. Cetera Investment Advisers now owns 80,895 shares of the utilities provider’s stock valued at $3,124,000 after acquiring an additional 68,461 shares during the last quarter. Cetera Advisors LLC increased its position in FirstEnergy by 19.7% in the first quarter. Cetera Advisors LLC now owns 22,052 shares of the utilities provider’s stock worth $852,000 after purchasing an additional 3,627 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in FirstEnergy by 1.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 83,216 shares of the utilities provider’s stock worth $3,171,000 after purchasing an additional 1,161 shares during the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Stock Performance

Shares of FE opened at $42.58 on Friday. The firm has a market cap of $24.54 billion, a P/E ratio of 27.47, a PEG ratio of 2.30 and a beta of 0.51. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm’s 50 day moving average price is $42.74 and its two-hundred day moving average price is $41.52.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. On average, analysts forecast that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s dividend payout ratio is presently 109.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FE shares. Barclays lifted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Argus upgraded 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. Scotiabank raised their price target on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.91.

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.