ProShare Advisors LLC Purchases 113,846 Shares of FirstEnergy Corporation $FE

ProShare Advisors LLC lifted its holdings in FirstEnergy Corporation (NYSE:FE) by 90.6% during the 3rd quarter, Holdings Channel reports. The fund owned 239,556 shares of the utilities provider’s stock after acquiring an additional 113,846 shares during the quarter. ProShare Advisors LLC’s holdings in FirstEnergy were worth $10,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FE. State of Wyoming bought a new position in FirstEnergy in the 2nd quarter valued at $25,000. American National Bank & Trust increased its stake in shares of FirstEnergy by 380.2% in the third quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock valued at $27,000 after buying an additional 460 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of FirstEnergy in the third quarter valued at about $27,000. TruNorth Capital Management LLC lifted its position in FirstEnergy by 187.5% during the 3rd quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider’s stock worth $28,000 after buying an additional 405 shares in the last quarter. Finally, Caldwell Trust Co bought a new stake in FirstEnergy during the 2nd quarter worth about $35,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.6%

Shares of NYSE:FE opened at $47.95 on Thursday. The company has a 50 day moving average price of $45.69 and a two-hundred day moving average price of $45.23. The company has a market capitalization of $27.70 billion, a PE ratio of 20.94, a PEG ratio of 2.72 and a beta of 0.64. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $48.20. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75.

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 7th will be issued a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 3.9%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, May 7th. FirstEnergy’s dividend payout ratio is currently 77.73%.

Analyst Ratings Changes

FE has been the subject of a number of research analyst reports. Mizuho boosted their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of FirstEnergy in a research report on Monday, December 29th. UBS Group reduced their price objective on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Jefferies Financial Group lifted their target price on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Finally, Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.85.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.