FirstEnergy Corp. (NYSE:FE) Shares Purchased by Sachetta LLC

Sachetta LLC raised its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 36.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 929 shares of the utilities provider’s stock after buying an additional 246 shares during the quarter. Sachetta LLC’s holdings in FirstEnergy were worth $39,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FinTrust Capital Advisors LLC boosted its position in FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the period. ST Germain D J Co. Inc. increased its holdings in shares of FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 615 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in FirstEnergy during the fourth quarter worth approximately $31,000. Western Pacific Wealth Management LP purchased a new stake in shares of FirstEnergy during the 1st quarter worth approximately $36,000. Finally, West Oak Capital LLC acquired a new position in shares of FirstEnergy in the 2nd quarter valued at $38,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on FE. Barclays lifted their price target on FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. increased 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. Morgan Stanley lifted their price objective on shares of FirstEnergy from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Mizuho increased their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. Finally, KeyCorp upped their price objective on FirstEnergy from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and an average target price of $43.50.

FirstEnergy Trading Down 0.5 %

NYSE FE opened at $44.27 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $25.50 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.32 and a beta of 0.50. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $44.97. The firm has a 50-day moving average price of $41.69 and a 200 day moving average price of $39.62.

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

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.425 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.84%. FirstEnergy’s dividend payout ratio is presently 97.70%.

About FirstEnergy

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.