18,700 Shares in FirstEnergy Corporation $FE Purchased by iSAM Funds UK Ltd

iSAM Funds UK Ltd purchased a new stake in FirstEnergy Corporation (NYSE:FE) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 18,700 shares of the utilities provider’s stock, valued at approximately $889,000.

Several other institutional investors also recently bought and sold shares of FE. State of Wyoming purchased a new position in shares of FirstEnergy in the second quarter valued at approximately $25,000. Axiom Investment Management LLC purchased a new stake in shares of FirstEnergy during the first quarter worth approximately $26,000. DV Equities LLC purchased a new stake in shares of FirstEnergy during the fourth quarter worth approximately $33,000. Summit Securities Group LLC raised its stake in FirstEnergy by 148.0% in the 4th quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 2,376 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new position in FirstEnergy in the 1st quarter valued at $37,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.3%

Shares of NYSE FE opened at $46.30 on Thursday. The company has a market capitalization of $26.79 billion, a P/E ratio of 24.63, a P/E/G ratio of 2.66 and a beta of 0.46. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. The company has a 50 day simple moving average of $47.80 and a 200-day simple moving average of $48.26. FirstEnergy Corporation has a 1 year low of $42.87 and a 1 year high of $52.34.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.51 billion. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that FirstEnergy Corporation will post 2.74 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were issued a dividend of $0.465 per share. The ex-dividend date was Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 4.0%. FirstEnergy’s dividend payout ratio is currently 98.94%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FE. Morgan Stanley lowered their target price on shares of FirstEnergy from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. UBS Group increased their target price on shares of FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. 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. TD Cowen upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and lowered their price target for the stock from $56.00 to $53.00 in a research report on Friday, May 15th. Finally, Weiss Ratings cut shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, FirstEnergy has an average rating of “Moderate Buy” and an average price target of $52.83.

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.