Jones Financial Companies Lllp Acquires 92,954 Shares of FirstEnergy Corporation $FE

Jones Financial Companies Lllp grew its stake in shares of FirstEnergy Corporation (NYSE:FE) by 89.1% in the second quarter, HoldingsChannel.com reports. The firm owned 197,241 shares of the utilities provider’s stock after purchasing an additional 92,954 shares during the period. Jones Financial Companies Lllp’s holdings in FirstEnergy were worth $9,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $256,000. Integrated Wealth Concepts LLC bought a new position in FirstEnergy during the 1st quarter valued at $289,000. Empowered Funds LLC boosted its holdings in FirstEnergy by 7.0% during the 1st quarter. Empowered Funds LLC now owns 11,213 shares of the utilities provider’s stock worth $453,000 after acquiring an additional 732 shares during the last quarter. Woodline Partners LP boosted its holdings in FirstEnergy by 40.7% during the 1st quarter. Woodline Partners LP now owns 43,334 shares of the utilities provider’s stock worth $1,752,000 after acquiring an additional 12,531 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in shares of FirstEnergy by 6.8% in the 1st quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider’s stock worth $856,000 after acquiring an additional 1,340 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 recent analyst reports. UBS Group raised their price target 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. Morgan Stanley dropped their target price on shares of FirstEnergy from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and reduced their target price for the company from $56.00 to $53.00 in a report on Friday, May 15th. Wolfe Research downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings lowered FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, FirstEnergy currently has an average rating of “Moderate Buy” and a consensus target price of $52.83.

FirstEnergy Stock Up 1.4%

FE opened at $46.58 on Tuesday. The company has a 50 day moving average of $47.90 and a 200 day moving average of $48.31. The company has a market cap of $26.96 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.46. FirstEnergy Corporation has a 12 month low of $42.87 and a 12 month high of $52.34. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. On average, sell-side analysts expect that FirstEnergy Corporation will post 2.74 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a $0.465 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.86 annualized dividend and a yield of 4.0%. FirstEnergy’s dividend payout ratio (DPR) is currently 98.94%.

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.