153,806 Shares in FirstEnergy Corporation $FE Purchased by Jupiter Topco LLC

Jupiter Topco LLC bought a new stake in shares of FirstEnergy Corporation (NYSE:FE) in the 2nd quarter, Holdings Channel.com reports. The fund bought 153,806 shares of the utilities provider’s stock, valued at approximately $7,311,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its position in shares of FirstEnergy by 4.1% in the fourth quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 213 shares during the last quarter. Simplicity Wealth LLC raised its position in shares of FirstEnergy by 3.4% during the 1st quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 223 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in FirstEnergy by 5.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider’s stock valued at $209,000 after buying an additional 223 shares in the last quarter. Pinnacle Bancorp Inc. lifted its stake in FirstEnergy by 44.4% in the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider’s stock valued at $38,000 after buying an additional 232 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in FirstEnergy by 3.7% during the 4th quarter. Allworth Financial LP now owns 6,778 shares of the utilities provider’s stock valued at $303,000 after buying an additional 241 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Down 0.1%

Shares of FE opened at $45.84 on Monday. The stock has a fifty day moving average of $47.88 and a two-hundred day moving average of $48.30. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54. The company has a market capitalization of $26.52 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 2.19 and a beta of 0.46. FirstEnergy Corporation has a fifty-two week low of $42.87 and a fifty-two week high of $52.34.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, analysts forecast that FirstEnergy Corporation will post 2.74 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a dividend of $0.465 per share. The ex-dividend date is Friday, August 7th. This represents a $1.86 annualized dividend and a yield of 4.1%. FirstEnergy’s dividend payout ratio is 98.94%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley dropped their price target on FirstEnergy from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and decreased their price objective for the company from $56.00 to $53.00 in a research note on Friday, May 15th. UBS Group lifted their price objective on FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings downgraded shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Finally, Barclays decreased their price target on shares of FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.83.

FirstEnergy Company Profile

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.