Sanctuary Advisors LLC Has $1.11 Million Holdings in FirstEnergy Corp. (NYSE:FE)

Sanctuary Advisors LLC grew its position in FirstEnergy Corp. (NYSE:FE) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,508 shares of the utilities provider’s stock after buying an additional 4,682 shares during the quarter. Sanctuary Advisors LLC’s holdings in FirstEnergy were worth $1,108,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FE. Assenagon Asset Management S.A. lifted its position 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 acquiring an additional 694,313 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of FirstEnergy by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after purchasing an additional 457,231 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of FirstEnergy in the second quarter worth $14,933,000. Los Angeles Capital Management LLC boosted its position in shares of FirstEnergy by 1,178.5% in the second quarter. Los Angeles Capital Management LLC now owns 286,824 shares of the utilities provider’s stock worth $10,977,000 after buying an additional 264,389 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of FirstEnergy by 4,445.0% during the third quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after buying an additional 214,606 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

NYSE FE opened at $39.79 on Friday. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97. The stock’s 50-day moving average is $41.83 and its two-hundred day moving average is $41.61. The firm has a market cap of $22.93 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 2.18 and a beta of 0.51. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. On average, analysts anticipate that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. KeyCorp lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group began coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. Finally, Bank of America upped their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, FirstEnergy presently has a consensus rating of “Hold” and a consensus price target of $46.27.

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.