Stephens Inc. AR Buys New Position in FirstEnergy Corp. (NYSE:FE)

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 Profile

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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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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