Montag A & Associates Inc. decreased its position in FirstEnergy Corp. (NYSE:FE) by 55.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,603 shares of the utilities provider’s stock after selling 144,515 shares during the quarter. Montag A & Associates Inc.’s holdings in FirstEnergy were worth $4,223,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FE. Private Capital Group LLC increased its position in shares of FirstEnergy by 1,890.7% in the first quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock valued at $102,000 after acquiring an additional 2,836 shares during the last quarter. Reilly Financial Advisors LLC increased its position in shares of FirstEnergy by 285.8% in the second quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock valued at $103,000 after acquiring an additional 2,132 shares during the last quarter. IMA Wealth Inc. acquired a new stake in shares of FirstEnergy in the second quarter valued at about $180,000. Piedmont Investment Advisors LLC acquired a new stake in shares of FirstEnergy in the second quarter valued at about $189,000. Finally, Signition LP acquired a new stake in shares of FirstEnergy in the first quarter valued at about $204,000. 93.36% of the stock is currently owned by hedge funds and other institutional investors.
FE has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on FirstEnergy from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Mizuho raised FirstEnergy from a “neutral” rating to a “buy” rating in a research report on Monday, May 7th. Finally, Wells Fargo & Co raised FirstEnergy from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $27.93 to $34.30 in a research report on Monday, April 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $37.57.
Shares of NYSE FE opened at $37.30 on Friday. The company has a market cap of $17.61 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 2.46 and a beta of 0.24. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.41 and a current ratio of 0.47. FirstEnergy Corp. has a twelve month low of $29.33 and a twelve month high of $37.52.
FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.09. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.56 billion. FirstEnergy had a positive return on equity of 24.39% and a negative net margin of 4.60%. During the same quarter in the previous year, the business earned $0.61 earnings per share. analysts anticipate that FirstEnergy Corp. will post 2.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Tuesday, August 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Monday, August 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 46.91%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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