Moors & Cabot Inc. Sells 826 Shares of FirstEnergy Corp. (NYSE:FE)

Moors & Cabot Inc. lowered its position in FirstEnergy Corp. (NYSE:FE) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,712 shares of the utilities provider’s stock after selling 826 shares during the period. Moors & Cabot Inc.’s holdings in FirstEnergy were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Quadrant Capital Group LLC lifted its holdings in shares of FirstEnergy by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,973 shares of the utilities provider’s stock worth $109,000 after buying an additional 1,270 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in FirstEnergy by 25.2% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,224 shares of the utilities provider’s stock worth $448,000 after acquiring an additional 2,458 shares in the last quarter. PNC Financial Services Group Inc. increased its position in FirstEnergy by 20.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 95,378 shares of the utilities provider’s stock valued at $3,497,000 after purchasing an additional 16,018 shares during the period. Corient Private Wealth LLC raised its holdings in shares of FirstEnergy by 14.6% in the 4th quarter. Corient Private Wealth LLC now owns 46,898 shares of the utilities provider’s stock valued at $1,719,000 after purchasing an additional 5,979 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of FirstEnergy by 3.0% in the 4th quarter. US Bancorp DE now owns 64,573 shares of the utilities provider’s stock worth $2,367,000 after purchasing an additional 1,866 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 1.8 %

FE stock opened at $44.00 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. The firm’s fifty day simple moving average is $42.50 and its 200-day simple moving average is $39.98. FirstEnergy Corp. has a 12 month low of $32.18 and a 12 month high of $44.97. The company has a market capitalization of $25.32 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50.

FirstEnergy (NYSE:FE) last announced its quarterly 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. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same period last year, the firm earned $0.47 EPS. As a group, equities research analysts forecast that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Announces Dividend

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. This represents a $1.70 annualized dividend and a yield of 3.86%. The ex-dividend date was Wednesday, August 7th. FirstEnergy’s dividend payout ratio is currently 97.70%.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of analyst reports. Mizuho upped their target price on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. KeyCorp raised their price objective on FirstEnergy from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Bank of America boosted their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. 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. Finally, Wells Fargo & Company increased their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.