True Link Financial Advisors LLC Cuts Holdings in FirstEnergy Corp. (NYSE:FE)

True Link Financial Advisors LLC trimmed its position in FirstEnergy Corp. (NYSE:FE) by 14.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,471 shares of the utilities provider’s stock after selling 900 shares during the period. True Link Financial Advisors LLC’s holdings in FirstEnergy were worth $243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FE. Capital World Investors raised its stake 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 worth $3,009,615,000 after purchasing an additional 9,773,785 shares during the period. Assenagon Asset Management S.A. raised its position 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 worth $32,965,000 after acquiring an additional 694,313 shares during the period. UniSuper Management Pty Ltd boosted its stake in FirstEnergy by 63.4% in the first quarter. UniSuper Management Pty Ltd now owns 1,328,210 shares of the utilities provider’s stock valued at $51,295,000 after acquiring an additional 515,458 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of FirstEnergy by 5.3% during 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 acquiring an additional 457,231 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of FirstEnergy during the 2nd quarter valued at approximately $14,933,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FE shares. Barclays upped their price objective on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Scotiabank upped their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. KeyCorp boosted their price objective on FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Bank of America upped their price objective on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.00.

FirstEnergy Price Performance

Shares of FE stock traded down $0.58 during trading hours on Tuesday, reaching $43.10. The stock had a trading volume of 103,286 shares, compared to its average volume of 2,903,463. The stock’s fifty day simple moving average is $43.70 and its 200 day simple moving average is $41.00. The firm has a market capitalization of $24.82 billion, a PE ratio of 30.98, a PEG ratio of 2.28 and a beta of 0.50. FirstEnergy Corp. has a 12 month low of $34.92 and a 12 month high of $44.97. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the firm earned $0.47 EPS. On average, equities research analysts predict that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Dividend Announcement

The firm 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 dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s payout ratio is 120.57%.

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.