FirstEnergy Corp. (NYSE:FE) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in FirstEnergy Corp. (NYSE:FE) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,897 shares of the utilities provider’s stock after buying an additional 634 shares during the quarter. GAMMA Investing LLC’s holdings in FirstEnergy were worth $433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in shares of FirstEnergy by 1,417.3% in the third quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after acquiring an additional 694,313 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of FirstEnergy by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after purchasing an additional 457,231 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of FirstEnergy during the 2nd quarter valued at approximately $14,933,000. Los Angeles Capital Management LLC increased its stake in shares of FirstEnergy by 1,178.5% in the second quarter. Los Angeles Capital Management LLC now owns 286,824 shares of the utilities provider’s stock worth $10,977,000 after buying an additional 264,389 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of FirstEnergy by 4,445.0% in the third quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock worth $9,732,000 after buying an additional 214,606 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FE. Morgan Stanley decreased their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Barclays increased their target price on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, KeyCorp lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Stock Up 0.0 %

FirstEnergy stock opened at $39.92 on Monday. The firm has a market capitalization of $23.01 billion, a P/E ratio of 25.76, a P/E/G ratio of 2.18 and a beta of 0.52. The company has a 50-day simple moving average of $41.05 and a 200-day simple moving average of $41.71. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. During the same quarter in the previous year, the business posted $0.88 EPS. FirstEnergy’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.26%. The ex-dividend date is Friday, February 7th. FirstEnergy’s payout ratio is currently 109.68%.

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.