NewSquare Capital LLC grew its position in FirstEnergy Corp. (NYSE:FE) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,241 shares of the utilities provider’s stock after purchasing an additional 2,968 shares during the period. NewSquare Capital LLC’s holdings in FirstEnergy were worth $1,496,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FE. Reilly Financial Advisors LLC raised its holdings in shares of FirstEnergy by 285.8% during the second 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 period. Private Capital Group LLC raised its holdings in shares of FirstEnergy by 1,890.7% during the first 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 period. Winslow Evans & Crocker Inc. acquired a new stake in shares of FirstEnergy during the third quarter worth $114,000. IMA Wealth Inc. acquired a new stake in shares of FirstEnergy during the second quarter worth $180,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of FirstEnergy during the second quarter worth $189,000. Institutional investors own 94.59% of the company’s stock.
A number of equities research analysts recently commented on the stock. TheStreet upgraded shares of FirstEnergy from a “c+” rating to a “b” rating in a report on Tuesday, July 31st. Morgan Stanley raised their price objective on shares of FirstEnergy from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, July 16th. Howard Weil assumed coverage on shares of FirstEnergy in a report on Tuesday, July 24th. They set a “sector outperform” rating and a $39.00 price objective on the stock. Citigroup raised their price objective on shares of FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, October 3rd. Finally, Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, July 24th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.70.
FirstEnergy stock opened at $38.85 on Friday. The firm has a market capitalization of $18.50 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 2.55 and a beta of 0.29. FirstEnergy Corp. has a 1-year low of $29.33 and a 1-year high of $38.99. The company has a quick ratio of 0.41, a current ratio of 0.47 and a debt-to-equity ratio of 2.18.
FirstEnergy (NYSE:FE) last released its 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. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.61 earnings per share. On average, research analysts anticipate that FirstEnergy Corp. will post 2.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is currently 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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