Chicago Partners Investment Group LLC Grows Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Chicago Partners Investment Group LLC raised its position in shares of FirstEnergy Corp. (NYSE:FE) by 55.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,479 shares of the utilities provider’s stock after buying an additional 4,081 shares during the period. Chicago Partners Investment Group LLC’s holdings in FirstEnergy were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Livelsberger Financial Advisory purchased a new position in shares of FirstEnergy during the third quarter worth $26,000. FinTrust Capital Advisors LLC boosted its position 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 worth $26,000 after buying an additional 610 shares during the period. ST Germain D J Co. Inc. boosted its holdings in 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 valued at $26,000 after purchasing an additional 615 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in FirstEnergy in the second quarter valued at $32,000. Finally, Sachetta LLC boosted its holdings in FirstEnergy by 36.0% in the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 246 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. KeyCorp lifted their price target 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 lifted their price target on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Bank of America lifted their price target on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Stock Down 0.4 %

FE opened at $41.55 on Tuesday. The business’s 50-day simple moving average is $43.58 and its 200-day simple moving average is $41.16. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.43 and a current ratio of 0.56. FirstEnergy Corp. has a one year low of $34.92 and a one year high of $44.97. The stock has a market capitalization of $23.95 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.51.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Analysts anticipate that FirstEnergy Corp. will post 2.69 EPS 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 annualized dividend and a yield of 4.09%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

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.