First Trust Advisors LP grew its position in shares of FirstEnergy Corp. (NYSE:FE) by 67.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 398,942 shares of the utilities provider’s stock after acquiring an additional 160,373 shares during the quarter. First Trust Advisors LP’s holdings in FirstEnergy were worth $14,326,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Private Capital Group LLC boosted its position in FirstEnergy by 1,890.7% during the 1st quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 2,836 shares during the last quarter. Reilly Financial Advisors LLC boosted its position in FirstEnergy by 285.8% during the 2nd quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 2,132 shares during the last quarter. IMA Wealth Inc. acquired a new position in FirstEnergy during the 2nd quarter worth approximately $180,000. Piedmont Investment Advisors LLC acquired a new position in FirstEnergy during the 2nd quarter worth approximately $189,000. Finally, Signition LP acquired a new position in FirstEnergy during the 1st quarter worth approximately $204,000. 93.36% of the stock is owned by hedge funds and other institutional investors.
NYSE FE opened at $37.08 on Tuesday. The company has a market capitalization of $17.61 billion, a PE ratio of 12.08, a P/E/G ratio of 2.46 and a beta of 0.24. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.47 and a quick ratio of 0.41. FirstEnergy Corp. has a 12 month low of $29.33 and a 12 month high of $37.52.
FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.09. FirstEnergy had a positive return on equity of 24.39% and a negative net margin of 4.60%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the business earned $0.61 EPS. sell-side analysts forecast that FirstEnergy Corp. will post 2.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Monday, August 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 46.91%.
FE has been the subject of several recent analyst reports. TheStreet raised FirstEnergy from a “c+” rating to a “b” rating in a report on Tuesday, July 31st. Howard Weil initiated coverage on FirstEnergy in a report on Tuesday, July 24th. They issued a “sector outperform” rating and a $39.00 price objective for the company. ValuEngine downgraded FirstEnergy from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. Barclays initiated coverage on FirstEnergy in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, June 5th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $37.57.
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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