18,260 Shares of FirstEnergy Corporation $FE Acquired by CenterBook Partners LP

CenterBook Partners LP purchased a new position in FirstEnergy Corporation (NYSE:FE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,260 shares of the utilities provider’s stock, valued at approximately $791,000.

A number of other hedge funds have also bought and sold shares of the company. Axiom Investment Management LLC bought a new stake in FirstEnergy in the first quarter valued at about $26,000. Livelsberger Financial Advisory bought a new position in FirstEnergy during the 3rd quarter worth approximately $28,000. Western Wealth Management LLC bought a new position in FirstEnergy during the 1st quarter worth approximately $37,000. Highland Investment Advisors LLC acquired a new position in shares of FirstEnergy in the 2nd quarter worth approximately $35,000. Finally, Ascentis Independent Advisors bought a new stake in shares of FirstEnergy in the 1st quarter valued at approximately $46,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Mizuho set a $47.00 price target on FirstEnergy in a research report on Monday, October 12th. BMO Capital Markets initiated coverage on shares of FirstEnergy in a report on Monday, October 26th. They issued an “outperform” rating and a $50.00 price objective for the company. Barclays lowered their target price on shares of FirstEnergy from $54.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Weiss Ratings upgraded shares of FirstEnergy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. Finally, Wall Street Zen raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.77.

FirstEnergy Stock Performance

Shares of FE stock opened at $46.45 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 1.79. The business has a 50 day moving average of $45.51 and a two-hundred day moving average of $47.51. FirstEnergy Corporation has a 52 week low of $42.67 and a 52 week high of $52.34. The company has a market cap of $26.89 billion, a P/E ratio of 17.08, a PEG ratio of 2.74 and a beta of 0.39.

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

FirstEnergy Dividend Announcement

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

FirstEnergy 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.