Chartwell Investment Partners LLC decreased its holdings in FirstEnergy Corp. (NYSE:FE) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,925 shares of the utilities provider’s stock after selling 2,035 shares during the quarter. Chartwell Investment Partners LLC’s holdings in FirstEnergy were worth $5,814,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisor Group Holdings Inc. bought a new stake in FirstEnergy during the first quarter worth about $3,291,000. FDx Advisors Inc. raised its position in shares of FirstEnergy by 164.7% in the 1st quarter. FDx Advisors Inc. now owns 11,271 shares of the utilities provider’s stock valued at $43,000 after buying an additional 7,013 shares in the last quarter. GW Henssler & Associates Ltd. bought a new stake in shares of FirstEnergy during the 2nd quarter worth approximately $202,000. Private Advisor Group LLC boosted its position in shares of FirstEnergy by 10.5% during the 1st quarter. Private Advisor Group LLC now owns 26,114 shares of the utilities provider’s stock worth $1,047,000 after acquiring an additional 2,483 shares in the last quarter. Finally, NuWave Investment Management LLC increased its stake in FirstEnergy by 597.0% in the second quarter. NuWave Investment Management LLC now owns 2,516 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 2,155 shares during the last quarter. 84.28% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on FE shares. Evercore ISI downgraded FirstEnergy from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $50.00 to $41.00 in a report on Wednesday, July 22nd. Guggenheim downgraded FirstEnergy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $51.00 to $36.00 in a research report on Wednesday, July 22nd. Wells Fargo & Co decreased their target price on FirstEnergy from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Scotiabank cut shares of FirstEnergy from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $53.00 to $39.00 in a report on Wednesday, July 22nd. Finally, Mizuho downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating and raised their price target for the company from $39.00 to $41.00 in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $44.00.
FE opened at $29.00 on Friday. The company has a debt-to-equity ratio of 3.08, a current ratio of 0.78 and a quick ratio of 0.46. FirstEnergy Corp. has a fifty-two week low of $22.85 and a fifty-two week high of $52.51. The company’s 50 day moving average price is $37.78 and its two-hundred day moving average price is $42.75. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 23.39 and a beta of 0.43.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. FirstEnergy had a net margin of 6.10% and a return on equity of 19.31%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, equities research analysts predict that FirstEnergy Corp. will post 2.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Thursday, August 6th. FirstEnergy’s payout ratio is presently 60.47%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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