FirstEnergy Corp. (NYSE:FE) Shares Bought by New England Asset Management Inc.

New England Asset Management Inc. lifted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,730 shares of the utilities provider’s stock after purchasing an additional 3,660 shares during the quarter. New England Asset Management Inc.’s holdings in FirstEnergy were worth $5,754,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Quest Partners LLC raised its position in shares of FirstEnergy by 85.5% during the 3rd quarter. Quest Partners LLC now owns 91,590 shares of the utilities provider’s stock worth $4,062,000 after buying an additional 42,222 shares in the last quarter. Swiss National Bank increased its stake in shares of FirstEnergy by 0.3% during the third quarter. Swiss National Bank now owns 1,622,544 shares of the utilities provider’s stock valued at $71,960,000 after acquiring an additional 5,500 shares during the period. Empowered Funds LLC raised its holdings in FirstEnergy by 10.3% during the third quarter. Empowered Funds LLC now owns 9,421 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 881 shares in the last quarter. Empirical Finance LLC lifted its position in FirstEnergy by 1.9% in the third quarter. Empirical Finance LLC now owns 18,234 shares of the utilities provider’s stock worth $809,000 after purchasing an additional 343 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in FirstEnergy by 7.5% during the 3rd quarter. CIBC Asset Management Inc now owns 76,488 shares of the utilities provider’s stock valued at $3,392,000 after purchasing an additional 5,306 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.4 %

FirstEnergy stock opened at $41.69 on Tuesday. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97. 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 market capitalization of $24.03 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 2.23 and a beta of 0.51. The company has a 50 day moving average price of $43.07 and a 200 day moving average price of $41.38.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion during 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 business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. Research analysts forecast that FirstEnergy Corp. will post 2.69 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.08%. FirstEnergy’s dividend payout ratio is 109.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FE. KeyCorp boosted their price objective on FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Morgan Stanley upped their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Scotiabank lifted their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, FirstEnergy has a consensus rating of “Hold” and a consensus price target of $46.00.

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.