Gabelli Funds LLC Has $15.84 Million Stake in FirstEnergy Corp. (NYSE:FE)

Gabelli Funds LLC lessened its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 413,991 shares of the utilities provider’s stock after selling 6,000 shares during the quarter. Gabelli Funds LLC owned 0.07% of FirstEnergy worth $15,843,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FE. FinTrust Capital Advisors LLC boosted its position in shares of FirstEnergy by 1,150.9% during the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in FirstEnergy by 1,138.9% during the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 615 shares during the last quarter. Scarborough Advisors LLC bought a new stake in FirstEnergy in the 4th quarter worth about $31,000. Western Pacific Wealth Management LP purchased a new stake in FirstEnergy in the 1st quarter valued at about $36,000. Finally, West Oak Capital LLC bought a new position in shares of FirstEnergy during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. KeyCorp upped their target price on FirstEnergy from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Scotiabank upped their price objective on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Bank of America lifted their target price on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price target 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. Finally, Barclays lifted their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and an average target price of $44.18.

FirstEnergy Stock Performance

NYSE FE opened at $44.03 on Tuesday. The firm has a market cap of $25.34 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. 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’s 50 day moving average is $42.61 and its 200-day moving average is $40.06. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results 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 quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts predict that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.425 per share. The ex-dividend date 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%.

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.