Huber Capital Management LLC Acquires Shares of 31,618 FirstEnergy Corp. (FE)

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Huber Capital Management LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,618 shares of the utilities provider’s stock, valued at approximately $1,135,000.

A number of other hedge funds also recently modified their holdings of FE. Sawtooth Solutions LLC raised its position in shares of FirstEnergy by 3.7% in the first quarter. Sawtooth Solutions LLC now owns 41,960 shares of the utilities provider’s stock valued at $1,427,000 after buying an additional 1,514 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in FirstEnergy by 0.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 664,748 shares of the utilities provider’s stock valued at $22,608,000 after purchasing an additional 1,662 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in FirstEnergy by 2.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 79,014 shares of the utilities provider’s stock valued at $2,687,000 after purchasing an additional 1,703 shares in the last quarter. Van ECK Associates Corp raised its position in FirstEnergy by 4.4% during the first quarter. Van ECK Associates Corp now owns 42,306 shares of the utilities provider’s stock valued at $1,439,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its position in FirstEnergy by 15.1% during the second quarter. Beese Fulmer Investment Management Inc. now owns 13,697 shares of the utilities provider’s stock valued at $492,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

FE has been the subject of several research analyst reports. TheStreet upgraded shares of FirstEnergy from a “c+” rating to a “b” rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, June 5th. ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Morgan Stanley boosted their price objective on shares of FirstEnergy from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, July 16th. Finally, Bank of America boosted their price objective on shares of FirstEnergy from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. FirstEnergy presently has a consensus rating of “Buy” and an average target price of $37.57.

NYSE FE opened at $37.80 on Thursday. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 2.54 and a beta of 0.27. FirstEnergy Corp. has a fifty-two week low of $29.33 and a fifty-two week high of $37.92. The company has a current ratio of 0.47, a quick ratio of 0.41 and a debt-to-equity ratio of 2.18.

FirstEnergy (NYSE:FE) last posted its 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 analysts’ expectations of $2.56 billion. FirstEnergy had a negative net margin of 4.60% and a positive return on equity of 24.39%. During the same quarter in the previous year, the firm posted $0.61 earnings per share. sell-side analysts predict that FirstEnergy Corp. will post 2.46 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Tuesday, August 7th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, August 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.81%. FirstEnergy’s payout ratio is presently 46.91%.

About FirstEnergy

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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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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