Huber Capital Management LLC Has $938,000 Stock Position in FirstEnergy Corp. (NYSE:FE)

Huber Capital Management LLC lowered its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 3.5% in the second quarter, HoldingsChannel reports. The firm owned 24,506 shares of the utilities provider’s stock after selling 885 shares during the period. Huber Capital Management LLC’s holdings in FirstEnergy were worth $938,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in shares of FirstEnergy by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,973 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,270 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in FirstEnergy by 25.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,224 shares of the utilities provider’s stock valued at $448,000 after acquiring an additional 2,458 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of FirstEnergy by 20.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 95,378 shares of the utilities provider’s stock worth $3,497,000 after acquiring an additional 16,018 shares during the period. Corient Private Wealth LLC grew its position in shares of FirstEnergy by 14.6% in the fourth quarter. Corient Private Wealth LLC now owns 46,898 shares of the utilities provider’s stock valued at $1,719,000 after purchasing an additional 5,979 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of FirstEnergy by 3.0% during the fourth quarter. US Bancorp DE now owns 64,573 shares of the utilities provider’s stock worth $2,367,000 after purchasing an additional 1,866 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America upped their price objective on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Barclays lifted their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Mizuho increased their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd. KeyCorp lifted their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. increased their price target on FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and a consensus price target of $44.18.

FirstEnergy Price Performance

FirstEnergy stock opened at $44.00 on Friday. The stock has a fifty day moving average of $42.50 and a 200-day moving average of $39.98. The stock has a market capitalization of $25.32 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $44.97.

FirstEnergy (NYSE:FE) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, sell-side analysts expect that FirstEnergy Corp. will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.425 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.86%. FirstEnergy’s payout ratio is presently 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.