Huber Capital Management LLC Sells 885 Shares of FirstEnergy Corp. (NYSE:FE)

Huber Capital Management LLC reduced its holdings in FirstEnergy Corp. (NYSE:FE) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,506 shares of the utilities provider’s stock after selling 885 shares during the period. Huber Capital Management LLC’s holdings in FirstEnergy were worth $938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC lifted its stake in shares of FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 610 shares during the period. ST Germain D J Co. Inc. lifted its stake in FirstEnergy by 1,138.9% in the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after buying an additional 615 shares during the period. Scarborough Advisors LLC bought a new position in FirstEnergy during the fourth quarter worth about $31,000. Western Pacific Wealth Management LP acquired a new position in shares of FirstEnergy during the 1st quarter worth about $36,000. Finally, West Oak Capital LLC bought a new stake in shares of FirstEnergy in the 2nd quarter valued at about $38,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of FE opened at $44.00 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $44.97. The stock has a market capitalization of $25.32 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.32 and a beta of 0.50. The company has a 50 day moving average of $42.50 and a 200-day moving average of $39.98.

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

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.70 annualized dividend and a yield of 3.86%. FirstEnergy’s dividend payout ratio (DPR) is presently 97.70%.

Wall Street Analysts Forecast Growth

FE has been the topic of several recent analyst reports. Barclays boosted their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Wells Fargo & Company boosted their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Morgan Stanley raised 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. Scotiabank boosted their target price on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.18.

FirstEnergy Company 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.