Balanced Wealth Group LLC Buys 264 Shares of FirstEnergy Corp. (NYSE:FE)

Balanced Wealth Group LLC increased its stake in shares of FirstEnergy Corp. (NYSE:FE) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 26,500 shares of the utilities provider’s stock after acquiring an additional 264 shares during the period. FirstEnergy accounts for 0.3% of Balanced Wealth Group LLC’s holdings, making the stock its 27th largest position. Balanced Wealth Group LLC’s holdings in FirstEnergy were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of FE. FinTrust Capital Advisors LLC lifted its holdings in shares of FirstEnergy by 1,150.9% during the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 610 shares during the period. ST Germain D J Co. Inc. increased its position in shares of FirstEnergy by 1,138.9% during the 2nd 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 in the last quarter. Scarborough Advisors LLC bought a new position in FirstEnergy during the 4th quarter valued at about $31,000. Western Pacific Wealth Management LP acquired a new position in FirstEnergy in the first quarter valued at about $36,000. Finally, West Oak Capital LLC bought a new stake in FirstEnergy during the second quarter worth about $38,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

FirstEnergy stock opened at $44.00 on Friday. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $44.97. The company’s 50-day moving average is $42.50 and its two-hundred day moving average is $39.98. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. The company has a market cap of $25.32 billion, a PE ratio of 25.29, a PEG ratio of 2.32 and a beta of 0.50.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share 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 period in the prior year, the business posted $0.47 earnings per share. Equities analysts anticipate that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.425 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a yield of 3.86%. FirstEnergy’s dividend payout ratio is presently 97.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. 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 note on Friday. Wells Fargo & Company boosted their price objective on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Barclays raised their target price on FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. KeyCorp upped their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley raised their price objective on shares of FirstEnergy from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.18.

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.