Investors Purchase Large Volume of FirstEnergy Put Options (FE)

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FirstEnergy Corp. (NYSE:FE) saw unusually large options trading activity on Thursday. Investors acquired 2,049 put options on the stock. This represents an increase of approximately 1,008% compared to the average volume of 185 put options.

Hedge funds have recently bought and sold shares of the business. Zimmer Partners LP boosted its stake in shares of FirstEnergy by 14,693.7% during the first quarter. Zimmer Partners LP now owns 30,127,482 shares of the utilities provider’s stock valued at $1,024,636,000 after purchasing an additional 29,923,831 shares during the period. PointState Capital LP boosted its stake in shares of FirstEnergy by 76,111.3% during the second quarter. PointState Capital LP now owns 5,464,351 shares of the utilities provider’s stock valued at $196,225,000 after purchasing an additional 5,457,181 shares during the period. BlackRock Inc. boosted its stake in shares of FirstEnergy by 8.6% during the first quarter. BlackRock Inc. now owns 57,236,789 shares of the utilities provider’s stock valued at $1,946,621,000 after purchasing an additional 4,513,372 shares during the period. Epoch Investment Partners Inc. purchased a new stake in shares of FirstEnergy during the first quarter valued at $151,719,000. Finally, LSV Asset Management boosted its stake in shares of FirstEnergy by 21.0% during the first quarter. LSV Asset Management now owns 18,598,786 shares of the utilities provider’s stock valued at $632,544,000 after purchasing an additional 3,227,655 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.

Several equities research analysts recently weighed in on FE shares. 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 target on the stock 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 target on shares of FirstEnergy from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. Finally, Bank of America boosted their price target on shares of FirstEnergy from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $37.57.

FE stock opened at $37.96 on Friday. 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 has a twelve month low of $29.33 and a twelve month high of $38.09. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 2.57 and a beta of 0.27.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.09. FirstEnergy had a negative net margin of 4.60% and a positive return on equity of 24.39%. 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 previous year, the business posted $0.61 earnings per share. analysts anticipate that FirstEnergy will post 2.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Tuesday, August 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Monday, August 6th. FirstEnergy’s dividend payout ratio (DPR) is 46.91%.

FirstEnergy Company Profile

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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