Chartwell Investment Partners LLC Has $5.81 Million Holdings in FirstEnergy Corp. (NYSE:FE)

Chartwell Investment Partners LLC decreased its holdings in FirstEnergy Corp. (NYSE:FE) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,925 shares of the utilities provider’s stock after selling 2,035 shares during the quarter. Chartwell Investment Partners LLC’s holdings in FirstEnergy were worth $5,814,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisor Group Holdings Inc. bought a new stake in FirstEnergy during the first quarter worth about $3,291,000. FDx Advisors Inc. raised its position in shares of FirstEnergy by 164.7% in the 1st quarter. FDx Advisors Inc. now owns 11,271 shares of the utilities provider’s stock valued at $43,000 after buying an additional 7,013 shares in the last quarter. GW Henssler & Associates Ltd. bought a new stake in shares of FirstEnergy during the 2nd quarter worth approximately $202,000. Private Advisor Group LLC boosted its position in shares of FirstEnergy by 10.5% during the 1st quarter. Private Advisor Group LLC now owns 26,114 shares of the utilities provider’s stock worth $1,047,000 after acquiring an additional 2,483 shares in the last quarter. Finally, NuWave Investment Management LLC increased its stake in FirstEnergy by 597.0% in the second quarter. NuWave Investment Management LLC now owns 2,516 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 2,155 shares during the last quarter. 84.28% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have weighed in on FE shares. Evercore ISI downgraded FirstEnergy from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $50.00 to $41.00 in a report on Wednesday, July 22nd. Guggenheim downgraded FirstEnergy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $51.00 to $36.00 in a research report on Wednesday, July 22nd. Wells Fargo & Co decreased their target price on FirstEnergy from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Scotiabank cut shares of FirstEnergy from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $53.00 to $39.00 in a report on Wednesday, July 22nd. Finally, Mizuho downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating and raised their price target for the company from $39.00 to $41.00 in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $44.00.

FE opened at $29.00 on Friday. The company has a debt-to-equity ratio of 3.08, a current ratio of 0.78 and a quick ratio of 0.46. FirstEnergy Corp. has a fifty-two week low of $22.85 and a fifty-two week high of $52.51. The company’s 50 day moving average price is $37.78 and its two-hundred day moving average price is $42.75. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 23.39 and a beta of 0.43.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. FirstEnergy had a net margin of 6.10% and a return on equity of 19.31%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, equities research analysts predict that FirstEnergy Corp. will post 2.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Thursday, August 6th. FirstEnergy’s payout ratio is presently 60.47%.

About FirstEnergy

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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