F M Investments LLC Has $1.59 Million Stake in FirstEnergy Corp. (NYSE:FE)

F M Investments LLC reduced its stake in shares of FirstEnergy Corp. (NYSE:FE) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,053 shares of the utilities provider’s stock after selling 3,932 shares during the quarter. F M Investments LLC’s holdings in FirstEnergy were worth $1,591,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in shares of FirstEnergy by 14.3% during the 1st quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock valued at $3,009,615,000 after acquiring an additional 9,773,785 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in FirstEnergy by 1,417.3% in the third 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 in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of FirstEnergy by 63.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,328,210 shares of the utilities provider’s stock worth $51,295,000 after purchasing an additional 515,458 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of FirstEnergy by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after buying an additional 457,231 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in FirstEnergy in the second quarter valued at approximately $14,933,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on FE. JPMorgan Chase & Co. lifted their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Scotiabank boosted their target price on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. Finally, Argus upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Stock Performance

NYSE FE opened at $41.73 on Friday. The company’s fifty day moving average is $43.62 and its two-hundred day moving average is $41.11. FirstEnergy Corp. has a 52-week low of $34.92 and a 52-week high of $44.97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.43. The firm has a market capitalization of $24.05 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.24 and a beta of 0.51.

FirstEnergy (NYSE:FE) last released its earnings results 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 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 quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. Equities research analysts forecast that FirstEnergy Corp. will post 2.69 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 4.07%. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

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.