FirstEnergy Corporation $FE Stock Holdings Decreased by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in FirstEnergy Corporation (NYSE:FE) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 429,625 shares of the utilities provider’s stock after selling 11,896 shares during the period. Fifth Third Bancorp owned 0.07% of FirstEnergy worth $18,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. GRIMES & Co WEALTH MANAGEMENT LLC grew its stake in shares of FirstEnergy by 3.7% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 6,338 shares of the utilities provider’s stock worth $275,000 after acquiring an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its stake in FirstEnergy by 1.0% in the 2nd quarter. Elevation Point Wealth Partners LLC now owns 25,572 shares of the utilities provider’s stock worth $1,216,000 after purchasing an additional 245 shares in the last quarter. CX Institutional grew its position in FirstEnergy by 3.5% during the 2nd quarter. CX Institutional now owns 7,776 shares of the utilities provider’s stock worth $370,000 after purchasing an additional 266 shares during the last quarter. Versant Capital Management Inc grew its position in FirstEnergy by 16.7% during the 3rd quarter. Versant Capital Management Inc now owns 1,939 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 278 shares during the last quarter. Finally, Simplicity Wealth LLC increased its stake in FirstEnergy by 5.0% during the 3rd quarter. Simplicity Wealth LLC now owns 6,362 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 303 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FE has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of FirstEnergy from $54.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Morgan Stanley upped their target price on FirstEnergy from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. HSBC initiated coverage on FirstEnergy in a research report on Thursday, October 22nd. They issued a “buy” rating and a $50.00 target price on the stock. Mizuho set a $47.00 price target on shares of FirstEnergy in a research report on Monday, October 12th. Finally, Wall Street Zen upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.77.

FirstEnergy Stock Up 1.1%

Shares of NYSE FE opened at $46.99 on Friday. The company’s 50-day simple moving average is $45.52 and its 200-day simple moving average is $47.50. FirstEnergy Corporation has a 52-week low of $42.67 and a 52-week high of $52.34. The firm has a market cap of $27.20 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 2.73 and a beta of 0.39. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 1.79.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, October 27th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. FirstEnergy had a net margin of 7.40% and a return on equity of 11.07%. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts predict that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be paid a $0.4650 dividend. This represents a $1.86 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is currently 89.42%.

FirstEnergy Company Profile

FirstEnergy Corp. is an investor-owned electric utility holding company focused primarily on regulated electricity transmission and distribution. Through its utility subsidiaries, it delivers electricity to residential, commercial and industrial customers across parts of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. The company’s operations include maintaining local electric distribution networks and owning and operating high-voltage transmission infrastructure across portions of the Midwest and Mid-Atlantic.