43,663 Shares in FirstEnergy Corp. (NYSE:FE) Bought by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp bought a new position in shares of FirstEnergy Corp. (NYSE:FE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,663 shares of the utilities provider’s stock, valued at approximately $1,671,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in FirstEnergy by 14.3% during the first quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock worth $3,009,615,000 after acquiring an additional 9,773,785 shares in the last quarter. Boston Partners raised its position in shares of FirstEnergy by 2.3% in the first quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock valued at $367,423,000 after purchasing an additional 218,165 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of FirstEnergy by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,930,826 shares of the utilities provider’s stock valued at $344,908,000 after purchasing an additional 82,482 shares during the period. First Pacific Advisors LP raised its position in shares of FirstEnergy by 2.0% in the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock valued at $136,152,000 after purchasing an additional 69,512 shares during the period. Finally, 1832 Asset Management L.P. raised its position in shares of FirstEnergy by 20.6% in the fourth quarter. 1832 Asset Management L.P. now owns 3,454,376 shares of the utilities provider’s stock valued at $126,637,000 after purchasing an additional 590,815 shares during the period. 89.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

FE has been the topic of several research analyst reports. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday. Morgan Stanley increased their price objective on shares of FirstEnergy from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Mizuho increased their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. Scotiabank raised their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.18.

FirstEnergy Stock Performance

Shares of NYSE:FE opened at $44.00 on Monday. The company’s 50 day simple moving average is $42.50 and its 200 day simple moving average is $40.02. The stock has a market capitalization of $25.32 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $44.97.

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

FirstEnergy Announces Dividend

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

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.