Larson Financial Group LLC Boosts Holdings in FirstEnergy Corp. (NYSE:FE)

Larson Financial Group LLC grew its position in shares of FirstEnergy Corp. (NYSE:FE) by 6.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,967 shares of the utilities provider’s stock after purchasing an additional 2,475 shares during the period. Larson Financial Group LLC’s holdings in FirstEnergy were worth $1,728,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its position in shares of FirstEnergy by 71.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,399 shares of the utilities provider’s stock worth $865,000 after buying an additional 9,372 shares in the last quarter. Bessemer Group Inc. grew its position in shares of FirstEnergy by 3.6% during the first quarter. Bessemer Group Inc. now owns 9,139 shares of the utilities provider’s stock worth $353,000 after buying an additional 315 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of FirstEnergy during the first quarter worth approximately $325,000. Dynasty Wealth Management LLC acquired a new stake in shares of FirstEnergy during the first quarter worth approximately $617,000. Finally, Tidal Investments LLC grew its position in shares of FirstEnergy by 8.4% during the first quarter. Tidal Investments LLC now owns 13,083 shares of the utilities provider’s stock worth $505,000 after buying an additional 1,019 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE opened at $41.79 on Monday. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97. The company has a market cap of $24.08 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.25 and a beta of 0.51. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm has a fifty day moving average of $42.87 and a 200-day moving average of $41.45.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $3.96 billion. During the same period last year, the firm posted $0.88 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s dividend payout ratio is currently 109.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Barclays lifted their price objective on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, September 20th. Finally, Jefferies Financial Group initiated coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.91.

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.