CCM Investment Advisers LLC Acquires 3,989 Shares of FirstEnergy Corp. (NYSE:FE)

CCM Investment Advisers LLC boosted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 298,757 shares of the utilities provider’s stock after buying an additional 3,989 shares during the quarter. CCM Investment Advisers LLC owned approximately 0.05% of FirstEnergy worth $11,885,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its holdings in FirstEnergy by 1,417.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after purchasing an additional 694,313 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of FirstEnergy by 5.3% in the third 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. Point72 Asset Management L.P. purchased a new position in FirstEnergy during the second quarter valued at approximately $14,933,000. International Assets Investment Management LLC increased its holdings in FirstEnergy by 4,445.0% during the 3rd quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock worth $9,732,000 after acquiring an additional 214,606 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in FirstEnergy by 7.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock valued at $104,288,000 after purchasing an additional 193,540 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Trading Down 2.9 %

FE stock traded down $1.15 on Friday, reaching $38.62. The company’s stock had a trading volume of 1,219,938 shares, compared to its average volume of 2,104,327. The firm has a market cap of $22.26 billion, a PE ratio of 24.92, a PEG ratio of 2.18 and a beta of 0.52. The business has a fifty day simple moving average of $40.80 and a two-hundred day simple moving average of $41.70. FirstEnergy Corp. has a 12-month low of $35.41 and a 12-month 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.

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 company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. FirstEnergy’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.40%. FirstEnergy’s dividend payout ratio is presently 109.68%.

Analysts Set New Price Targets

FE has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group began coverage on FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 target price on the stock. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays upped their price objective on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.27.

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.