Centennial Wealth Advisory LLC Grows Stake in FirstEnergy Corp. (NYSE:FE)

Centennial Wealth Advisory LLC grew its position in shares of FirstEnergy Corp. (NYSE:FE) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,513 shares of the utilities provider’s stock after purchasing an additional 358 shares during the period. Centennial Wealth Advisory LLC’s holdings in FirstEnergy were worth $333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FE. Livelsberger Financial Advisory bought a new stake in FirstEnergy in the third quarter worth $26,000. ST Germain D J Co. Inc. increased its position in shares of FirstEnergy by 1,138.9% during the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after buying an additional 615 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of FirstEnergy during the second quarter valued at about $32,000. Sachetta LLC increased its position in shares of FirstEnergy by 36.0% during the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after buying an additional 246 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new position in shares of FirstEnergy during the first quarter valued at about $36,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Trading Down 0.0 %

NYSE:FE traded down $0.01 during mid-day trading on Wednesday, hitting $41.89. 107,223 shares of the stock traded hands, compared to its average volume of 2,936,945. The stock has a market capitalization of $24.14 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.24 and a beta of 0.51. FirstEnergy Corp. has a 52 week low of $34.92 and a 52 week high of $44.97. The firm’s 50 day moving average is $43.55 and its two-hundred day moving average is $41.19. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

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). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the company earned $0.88 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that FirstEnergy Corp. will post 2.69 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. Shareholders of record on Thursday, November 7th will be issued a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.06%. FirstEnergy’s dividend payout ratio is currently 109.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FE shares. 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 report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Argus upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, September 20th. Scotiabank increased their price objective on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, KeyCorp increased their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.00.

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.