49,368 Shares in FirstEnergy Corp. (NYSE:FE) Acquired by Quest Partners LLC

Quest Partners LLC purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 49,368 shares of the utilities provider’s stock, valued at approximately $1,889,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FinTrust Capital Advisors LLC lifted its holdings in shares of FirstEnergy by 1,150.9% during the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 610 shares during the period. ST Germain D J Co. Inc. lifted its holdings in shares of FirstEnergy by 1,138.9% during the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 615 shares during the period. Sachetta LLC acquired a new stake in shares of FirstEnergy during the fourth quarter worth about $25,000. Scarborough Advisors LLC acquired a new stake in shares of FirstEnergy during the fourth quarter worth about $31,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of FirstEnergy during the first quarter worth about $36,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FE. JPMorgan Chase & Co. lifted their target price on FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. KeyCorp lifted their target price on FirstEnergy from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Scotiabank boosted their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Bank of America boosted their price target on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, FirstEnergy has an average rating of “Hold” and an average target price of $43.50.

FirstEnergy Stock Down 0.6 %

FirstEnergy stock opened at $44.19 on Monday. The stock has a market capitalization of $25.45 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. FirstEnergy Corp. has a 12 month low of $32.18 and a 12 month high of $44.97. The business has a 50 day simple moving average of $41.44 and a 200-day simple moving average of $39.52. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same period in the previous year, the business earned $0.47 earnings per share. On average, analysts anticipate that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 97.70%.

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.