FirstEnergy Corp. (NYSE:FE) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC grew its position in FirstEnergy Corp. (NYSE:FE) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,189 shares of the utilities provider’s stock after buying an additional 911 shares during the quarter. Private Advisor Group LLC’s holdings in FirstEnergy were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. grew its stake in shares of FirstEnergy by 6.2% in the first quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider’s stock valued at $193,000 after buying an additional 290 shares in the last quarter. Marcum Wealth LLC grew its stake in FirstEnergy by 3.8% during the 1st quarter. Marcum Wealth LLC now owns 7,973 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 295 shares in the last quarter. Greenleaf Trust grew its stake in FirstEnergy by 3.1% during the 1st quarter. Greenleaf Trust now owns 9,736 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 295 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in FirstEnergy by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 44,441 shares of the utilities provider’s stock worth $1,701,000 after purchasing an additional 310 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in FirstEnergy by 16.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,243 shares of the utilities provider’s stock worth $87,000 after purchasing an additional 312 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.3 %

FirstEnergy stock opened at $44.34 on Tuesday. FirstEnergy Corp. has a fifty-two week low of $32.18 and a fifty-two week high of $44.97. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51. The company has a market capitalization of $25.52 billion, a P/E ratio of 25.48, a PEG ratio of 2.32 and a beta of 0.50. The stock has a 50-day simple moving average of $42.15 and a 200-day simple moving average of $39.83.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the business earned $0.47 EPS. Equities research analysts expect that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, August 7th. FirstEnergy’s dividend payout ratio is presently 97.70%.

Analyst Ratings Changes

FE has been the subject of several analyst reports. Morgan Stanley boosted their target price on FirstEnergy from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Scotiabank lifted their price target on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. KeyCorp lifted their price target on FirstEnergy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company lifted their price target on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price target on FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.60.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.