26,012 Shares in FirstEnergy Corp. (NYSE:FE) Purchased by DRW Securities LLC

DRW Securities LLC acquired a new position in FirstEnergy Corp. (NYSE:FE) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 26,012 shares of the utilities provider’s stock, valued at approximately $1,154,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FE. ST Germain D J Co. Inc. lifted its stake in FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 615 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of FirstEnergy during the third quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of FirstEnergy during the second quarter worth $32,000. Western Pacific Wealth Management LP acquired a new stake in FirstEnergy in the first quarter worth $36,000. Finally, West Oak Capital LLC acquired a new stake in FirstEnergy in the second quarter worth $38,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $42.04 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97. The firm’s 50 day moving average price is $42.83 and its 200-day moving average price is $41.47. The stock has a market capitalization of $24.23 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.51.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.88 earnings per share. Equities research analysts expect that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be issued a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.04%. FirstEnergy’s payout ratio is currently 109.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective on the stock. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Scotiabank lifted their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, KeyCorp boosted their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.