Intech Investment Management LLC Boosts Holdings in FirstEnergy Corp. (NYSE:FE)

Intech Investment Management LLC raised its stake in shares of FirstEnergy Corp. (NYSE:FE) by 55.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 28,120 shares of the utilities provider’s stock after buying an additional 10,000 shares during the period. Intech Investment Management LLC’s holdings in FirstEnergy were worth $1,076,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FinTrust Capital Advisors LLC raised its position in 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 acquiring an additional 610 shares in the last quarter. ST Germain D J Co. Inc. increased its holdings in shares of FirstEnergy by 1,138.9% during the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 615 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at $31,000. Sachetta LLC boosted its holdings in FirstEnergy by 36.0% during the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after buying an additional 246 shares in the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in FirstEnergy in the first quarter valued at $36,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Price Performance

FirstEnergy stock opened at $43.65 on Wednesday. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $44.97. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of 25.09, a PEG 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 has a fifty day simple moving average of $42.70 and a 200-day simple moving average of $40.10.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm posted $0.47 EPS. On average, equities analysts anticipate that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 3.89%. The ex-dividend date was Wednesday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 97.70%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FE. Mizuho increased their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. Morgan Stanley raised their price objective on FirstEnergy from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company boosted their price objective on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Barclays boosted their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.