FORA Capital LLC Raises Position in FirstEnergy Corp. (NYSE:FE)

FORA Capital LLC grew its position in FirstEnergy Corp. (NYSE:FE) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,362 shares of the utilities provider’s stock after acquiring an additional 401 shares during the period. FORA Capital LLC’s holdings in FirstEnergy were worth $117,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FE. Los Angeles Capital Management LLC boosted its holdings in shares of FirstEnergy by 3.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 274,058 shares of the utilities provider’s stock valued at $8,389,000 after acquiring an additional 8,657 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in FirstEnergy by 5.3% during the fourth quarter. Baird Financial Group Inc. now owns 10,560 shares of the utilities provider’s stock worth $323,000 after buying an additional 532 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in FirstEnergy by 5.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 91,054 shares of the utilities provider’s stock worth $2,787,000 after buying an additional 5,090 shares in the last quarter. Stifel Financial Corp boosted its holdings in FirstEnergy by 72.4% during the fourth quarter. Stifel Financial Corp now owns 167,275 shares of the utilities provider’s stock worth $5,120,000 after buying an additional 70,254 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in FirstEnergy by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,532,784 shares of the utilities provider’s stock worth $77,529,000 after buying an additional 90,879 shares in the last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of FE opened at $37.54 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 3.02. The firm has a market capitalization of $20.42 billion, a PE ratio of 15.14 and a beta of 0.24. The business’s 50-day simple moving average is $37.78. FirstEnergy Corp. has a 12-month low of $22.85 and a 12-month high of $39.22.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Wednesday, April 21st. The utilities provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. FirstEnergy had a net margin of 12.40% and a return on equity of 18.17%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. Research analysts predict that FirstEnergy Corp. will post 2.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 1st. Stockholders of record on Friday, August 6th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, August 5th. FirstEnergy’s dividend payout ratio is presently 65.27%.

A number of research firms recently commented on FE. Barclays boosted their price objective on shares of FirstEnergy from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 25th. Mizuho boosted their price objective on shares of FirstEnergy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, June 29th. Finally, Morgan Stanley boosted their price objective on shares of FirstEnergy from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, May 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.33.

FirstEnergy Company Profile

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 operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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