Balanced Wealth Group LLC Has $1.02 Million Position in FirstEnergy Corp. (NYSE:FE)

Balanced Wealth Group LLC boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,500 shares of the utilities provider’s stock after acquiring an additional 264 shares during the quarter. FirstEnergy makes up approximately 0.3% of Balanced Wealth Group LLC’s portfolio, making the stock its 27th largest holding. Balanced Wealth Group LLC’s holdings in FirstEnergy were worth $1,015,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FE. Sei Investments Co. lifted its position in shares of FirstEnergy by 28.9% in the second quarter. Sei Investments Co. now owns 577,589 shares of the utilities provider’s stock worth $22,104,000 after buying an additional 129,444 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of FirstEnergy by 1.7% in the 2nd quarter. AE Wealth Management LLC now owns 247,683 shares of the utilities provider’s stock valued at $9,479,000 after acquiring an additional 4,228 shares in the last quarter. Intech Investment Management LLC lifted its holdings in FirstEnergy by 55.2% in the 2nd quarter. Intech Investment Management LLC now owns 28,120 shares of the utilities provider’s stock worth $1,076,000 after purchasing an additional 10,000 shares during the last quarter. MQS Management LLC bought a new stake in FirstEnergy during the second quarter worth approximately $352,000. Finally, XTX Topco Ltd boosted its position in FirstEnergy by 325.7% during the second quarter. XTX Topco Ltd now owns 32,857 shares of the utilities provider’s stock worth $1,257,000 after purchasing an additional 25,138 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Up 1.8 %

FE stock opened at $44.00 on Friday. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $44.97. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The company has a market cap of $25.32 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The business’s 50-day simple moving average is $42.50 and its 200 day simple moving average is $39.98.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same quarter last year, the firm earned $0.47 EPS. On average, research analysts anticipate that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Wednesday, August 7th. FirstEnergy’s dividend payout ratio is 97.70%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Mizuho boosted their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd. Scotiabank upped their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price objective on FirstEnergy from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays increased their target price on FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.18.

FirstEnergy Profile

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.