nVerses Capital LLC Invests $146,000 in FirstEnergy Corp. (NYSE:FE)

nVerses Capital LLC bought a new position in FirstEnergy Corp. (NYSE:FE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,300 shares of the utilities provider’s stock, valued at approximately $146,000.

A number of other institutional investors have also added to or reduced their stakes in FE. Capital World Investors increased its position in shares of FirstEnergy by 14.3% during the 1st quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock valued at $3,009,615,000 after purchasing an additional 9,773,785 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of FirstEnergy by 63.4% during the first quarter. UniSuper Management Pty Ltd now owns 1,328,210 shares of the utilities provider’s stock worth $51,295,000 after acquiring an additional 515,458 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of FirstEnergy during the second quarter worth approximately $14,933,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of FirstEnergy in the 1st quarter worth approximately $12,631,000. Finally, Norden Group LLC boosted its stake in shares of FirstEnergy by 2,741.7% in the 1st quarter. Norden Group LLC now owns 295,936 shares of the utilities provider’s stock valued at $11,429,000 after purchasing an additional 285,522 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FE. Bank of America lifted their price target on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Scotiabank upped their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Barclays raised their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley upped their price objective on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their target price on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.91.

FirstEnergy Stock Up 0.4 %

Shares of NYSE:FE opened at $43.66 on Friday. The firm has a market capitalization of $25.13 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.27 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. The stock has a 50 day moving average price of $43.53 and a 200-day moving average price of $40.74. FirstEnergy Corp. has a 52-week low of $34.73 and a 52-week high of $44.97.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. As a group, equities research analysts anticipate that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

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