FirstEnergy Corp. (NYSE:FE) Shares Bought by PFG Investments LLC

PFG Investments LLC boosted its holdings in FirstEnergy Corp. (NYSE:FE) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,368 shares of the utilities provider’s stock after acquiring an additional 1,450 shares during the quarter. PFG Investments LLC’s holdings in FirstEnergy were worth $903,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Forsta AP Fonden boosted its position in shares of FirstEnergy by 6.4% in the 3rd quarter. Forsta AP Fonden now owns 130,600 shares of the utilities provider’s stock valued at $5,792,000 after purchasing an additional 7,900 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in FirstEnergy by 34.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,827 shares of the utilities provider’s stock valued at $1,490,000 after purchasing an additional 8,703 shares in the last quarter. Spirit of America Management Corp NY increased its holdings in FirstEnergy by 7.9% in the third quarter. Spirit of America Management Corp NY now owns 13,700 shares of the utilities provider’s stock worth $608,000 after buying an additional 1,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of FirstEnergy by 1,417.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock valued at $32,965,000 after purchasing an additional 694,313 shares during the last quarter. Finally, Commonwealth Financial Services LLC boosted its stake in shares of FirstEnergy by 10.4% during the 3rd quarter. Commonwealth Financial Services LLC now owns 6,477 shares of the utilities provider’s stock worth $288,000 after acquiring an additional 608 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FE has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. KeyCorp increased their target price on FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Bank of America lifted their price target on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Barclays boosted their price objective 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.00.

FirstEnergy Stock Down 1.5 %

FirstEnergy stock opened at $43.41 on Monday. FirstEnergy Corp. has a fifty-two week low of $34.91 and a fifty-two week high of $44.97. The firm has a market capitalization of $24.98 billion, a PE ratio of 24.95, a P/E/G ratio of 2.31 and a beta of 0.50. The company’s 50-day moving average is $43.69 and its 200-day moving average is $40.96. 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 posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently declared 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 dividend yield of 3.92%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s payout ratio is currently 97.70%.

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.