HB Wealth Management LLC Increases Stake in FirstEnergy Corp. (NYSE:FE)

HB Wealth Management LLC grew its stake in FirstEnergy Corp. (NYSE:FE) by 23.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,228 shares of the utilities provider’s stock after purchasing an additional 1,356 shares during the period. HB Wealth Management LLC’s holdings in FirstEnergy were worth $277,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sachetta LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC raised its position 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 worth $26,000 after acquiring an additional 610 shares during the period. ST Germain D J Co. Inc. raised its position 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 acquiring an additional 615 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of FirstEnergy during the 4th quarter worth about $31,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of FirstEnergy during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.7 %

FE opened at $43.92 on Friday. The firm has a market capitalization of $25.28 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 2.34 and a beta of 0.49. The company’s 50 day simple moving average is $40.74 and its two-hundred day simple moving average is $39.20. FirstEnergy Corp. has a 1-year low of $32.18 and a 1-year high of $44.07. 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $3.28 billion for 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 last year, the business posted $0.47 earnings per share. 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, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Wednesday, August 7th. FirstEnergy’s dividend payout ratio is currently 97.70%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FE shares. KeyCorp upped their price target on FirstEnergy from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Wells Fargo & Company upped their target price on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Bank of America increased their price objective on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Morgan Stanley boosted their target price on shares of FirstEnergy from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus price target of $43.27.

About FirstEnergy

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.