XTX Topco Ltd Increases Stock Position in FirstEnergy Corp. (NYSE:FE)

XTX Topco Ltd boosted its holdings in FirstEnergy Corp. (NYSE:FE) by 325.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,857 shares of the utilities provider’s stock after buying an additional 25,138 shares during the period. XTX Topco Ltd’s holdings in FirstEnergy were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission.

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

FirstEnergy Trading Up 1.8 %

Shares of FE opened at $44.00 on Friday. FirstEnergy Corp. has a fifty-two week low of $32.18 and a fifty-two week high of $44.97. The firm has a market cap of $25.32 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 2.32 and a beta of 0.50. The firm has a 50 day moving average price of $42.50 and a 200-day moving average price of $39.98. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51.

FirstEnergy (NYSE:FE) last posted 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. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. 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 disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.425 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 annualized dividend and a yield of 3.86%. FirstEnergy’s payout ratio is currently 97.70%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FE shares. Bank of America lifted their price objective on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Argus upgraded 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. Mizuho raised their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. JPMorgan Chase & Co. boosted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Scotiabank increased their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.