United Asset Strategies Inc. boosted its stake in FirstEnergy Corp. (NYSE:FE) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,045 shares of the utilities provider’s stock after acquiring an additional 2,771 shares during the period. United Asset Strategies Inc.’s holdings in FirstEnergy were worth $4,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in FirstEnergy by 0.3% in the second quarter. BlackRock Inc. now owns 57,385,793 shares of the utilities provider’s stock valued at $2,060,725,000 after purchasing an additional 149,004 shares during the period. Renaissance Technologies LLC increased its stake in shares of FirstEnergy by 23.1% during the second quarter. Renaissance Technologies LLC now owns 12,007,408 shares of the utilities provider’s stock worth $431,186,000 after acquiring an additional 2,251,708 shares during the period. FMR LLC increased its stake in shares of FirstEnergy by 8.2% during the second quarter. FMR LLC now owns 9,285,489 shares of the utilities provider’s stock worth $333,442,000 after acquiring an additional 703,852 shares during the period. Northern Trust Corp increased its stake in shares of FirstEnergy by 4.0% during the second quarter. Northern Trust Corp now owns 5,756,487 shares of the utilities provider’s stock worth $206,716,000 after acquiring an additional 223,160 shares during the period. Finally, PointState Capital LP increased its stake in shares of FirstEnergy by 76,111.3% during the second quarter. PointState Capital LP now owns 5,464,351 shares of the utilities provider’s stock worth $196,225,000 after acquiring an additional 5,457,181 shares during the period. 90.29% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently issued reports on FE shares. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Wednesday, October 10th. Wells Fargo & Co reiterated a “buy” rating and set a $42.00 price target (up from $41.00) on shares of FirstEnergy in a research note on Monday, September 17th. Bank of America boosted their price target on shares of FirstEnergy from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Citigroup boosted their price target on shares of FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. Finally, ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.90.

FE traded down $0.09 on Tuesday, hitting $38.70. 411,911 shares of the company were exchanged, compared to its average volume of 4,170,923. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 2.44. FirstEnergy Corp. has a fifty-two week low of $29.33 and a fifty-two week high of $39.38. The firm has a market capitalization of $19.43 billion, a P/E ratio of 12.61, a PEG ratio of 2.49 and a beta of 0.24.

FirstEnergy (NYSE:FE) last issued its earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.82 billion. Analysts predict that FirstEnergy Corp. will post 2.54 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 7th will be given a dividend of $0.38 per share. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio is presently 46.91%.

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About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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