FirstEnergy Corp. (NYSE:FE) Stock Position Raised by Czech National Bank

Czech National Bank lifted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 8.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,703 shares of the utilities provider’s stock after purchasing an additional 7,836 shares during the period. Czech National Bank’s holdings in FirstEnergy were worth $3,777,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FE. Richardson Financial Services Inc. raised its holdings in FirstEnergy by 6.2% during the 1st quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider’s stock worth $193,000 after buying an additional 290 shares during the period. Marcum Wealth LLC lifted its position in shares of FirstEnergy by 3.8% in the 1st quarter. Marcum Wealth LLC now owns 7,973 shares of the utilities provider’s stock valued at $308,000 after acquiring an additional 295 shares in the last quarter. Greenleaf Trust boosted its stake in FirstEnergy by 3.1% in the 1st quarter. Greenleaf Trust now owns 9,736 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 295 shares during the period. Bessemer Group Inc. grew its position in FirstEnergy by 3.6% during the 1st quarter. Bessemer Group Inc. now owns 9,139 shares of the utilities provider’s stock worth $353,000 after purchasing an additional 315 shares in the last quarter. Finally, Simplicity Wealth LLC raised its stake in FirstEnergy by 3.8% during the 2nd quarter. Simplicity Wealth LLC now owns 9,573 shares of the utilities provider’s stock valued at $366,000 after purchasing an additional 349 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Down 0.1 %

Shares of NYSE:FE traded down $0.03 on Monday, reaching $41.94. The company had a trading volume of 307,642 shares, compared to its average volume of 2,984,116. The company has a quick ratio of 0.56, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $24.14 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.69 and a beta of 0.49. The stock has a 50-day moving average price of $39.61 and a 200 day moving average price of $38.61. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $43.65.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period last year, the business posted $0.47 EPS. On average, equities analysts expect that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 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 4.05%. The ex-dividend date is Wednesday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 97.70%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Bank of America lifted their target price on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. Mizuho increased their price target on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd. JPMorgan Chase & Co. raised their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company increased their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.55.

FirstEnergy Company 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.