Stephens Inc. AR bought a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 100,547 shares of the utilities provider’s stock, valued at approximately $4,304,000.
A number of other institutional investors have also recently made changes to their positions in FE. Clean Yield Group boosted its stake in shares of FirstEnergy by 1,184.0% in the 2nd quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock valued at $27,000 after buying an additional 592 shares during the period. Horan Securities Inc. purchased a new position in shares of FirstEnergy in the 2nd quarter valued at about $28,000. Zions Bancorporation N.A. purchased a new position in shares of FirstEnergy in the 1st quarter valued at about $30,000. Destination Wealth Management purchased a new position in shares of FirstEnergy in the 1st quarter valued at about $35,000. Finally, Coastal Capital Group Inc. purchased a new position in shares of FirstEnergy in the 2nd quarter valued at about $41,000. Institutional investors own 93.57% of the company’s stock.
Several brokerages have recently issued reports on FE. Zacks Investment Research cut FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 price objective for the company. in a research note on Tuesday, July 2nd. KeyCorp reiterated an “overweight” rating and issued a $46.00 price objective on shares of FirstEnergy in a research note on Wednesday, June 5th. TheStreet cut FirstEnergy from a “b” rating to a “f” rating in a research note on Thursday, July 18th. Finally, Mizuho decreased their price objective on FirstEnergy from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $44.00.
In other FirstEnergy news, Director Christopher D. Pappas bought 3,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average price of $41.14 per share, with a total value of $123,420.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.
Shares of NYSE FE traded up $0.30 during midday trading on Friday, hitting $44.42. 114,327 shares of the company’s stock were exchanged, compared to its average volume of 4,946,033. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53. FirstEnergy Corp. has a twelve month low of $35.33 and a twelve month high of $44.75. The company has a market cap of $23.51 billion, a PE ratio of 17.15, a P/E/G ratio of 2.95 and a beta of 0.27. The firm’s fifty day simple moving average is $43.71 and its 200-day simple moving average is $41.98.
FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned $0.62 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Equities analysts anticipate that FirstEnergy Corp. will post 2.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, August 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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