MQS Management LLC Acquires 10,723 Shares of FirstEnergy Corp. (NYSE:FE)

MQS Management LLC increased its holdings in FirstEnergy Corp. (NYSE:FE) by 116.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,909 shares of the utilities provider’s stock after acquiring an additional 10,723 shares during the quarter. FirstEnergy comprises approximately 0.5% of MQS Management LLC’s portfolio, making the stock its 26th biggest position. MQS Management LLC’s holdings in FirstEnergy were worth $883,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Aptus Capital Advisors LLC purchased a new stake in shares of FirstEnergy in the 3rd quarter worth about $202,000. Aigen Investment Management LP raised its stake in FirstEnergy by 72.3% in the third quarter. Aigen Investment Management LP now owns 22,471 shares of the utilities provider’s stock worth $997,000 after buying an additional 9,429 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in FirstEnergy in the third quarter worth about $202,000. GSA Capital Partners LLP bought a new stake in FirstEnergy during the 3rd quarter valued at approximately $1,012,000. Finally, Entropy Technologies LP purchased a new position in shares of FirstEnergy during the 3rd quarter worth approximately $762,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

Shares of FE opened at $41.50 on Wednesday. FirstEnergy Corp. has a twelve month low of $34.92 and a twelve month high of $44.97. The company has a market capitalization of $23.92 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 2.24 and a beta of 0.51. The firm has a 50 day moving average of $43.31 and a 200 day moving average of $41.31. 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 (NYSE:FE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business 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 revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. As a group, equities research analysts anticipate that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s payout ratio is presently 109.68%.

Analyst Ratings Changes

A number of research firms have recently commented on FE. JPMorgan Chase & Co. raised their target price on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley raised their price objective on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company upped 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. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their price objective on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. 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 stock. According to MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and an average 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.