Semmax Financial Advisors Inc. lifted its stake in FirstEnergy Corp. (NYSE:FE) by 134.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,829 shares of the utilities provider’s stock after buying an additional 7,352 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in FirstEnergy were worth $534,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Lake Point Wealth Management purchased a new stake in FirstEnergy during the fourth quarter valued at $25,000. Legacy Advisors LLC purchased a new stake in FirstEnergy during the first quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in FirstEnergy during the fourth quarter valued at $34,000. Destination Wealth Management purchased a new stake in FirstEnergy during the first quarter valued at $35,000. Finally, Tompkins Financial Corp raised its stake in FirstEnergy by 50.1% during the first quarter. Tompkins Financial Corp now owns 1,001 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 334 shares in the last quarter. 90.52% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FE opened at $42.47 on Friday. FirstEnergy Corp. has a twelve month low of $32.92 and a twelve month high of $42.63. The firm has a market capitalization of $22.57 billion, a PE ratio of 16.40, a PEG ratio of 2.74 and a beta of 0.30. The company has a current ratio of 0.54, a quick ratio of 0.47 and a debt-to-equity ratio of 2.72.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the company posted $0.67 EPS. The company’s revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that FirstEnergy Corp. will post 2.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s payout ratio is presently 58.69%.

FE has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $46.00 in a research note on Wednesday, March 20th. Bank of America increased their target price on shares of FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. FirstEnergy presently has a consensus rating of “Buy” and a consensus price target of $42.86.

In other news, EVP Leila L. Vespoli sold 24,400 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $41.33, for a total value of $1,008,452.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

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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 and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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