Two Sigma Advisers LP grew its position in FirstEnergy Corp. (NYSE:FE) by 41.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,937,200 shares of the utilities provider’s stock after purchasing an additional 856,600 shares during the period. Two Sigma Advisers LP owned about 0.54% of FirstEnergy worth $113,905,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FE. Schonfeld Strategic Advisors LLC raised its stake in FirstEnergy by 27.2% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 76,951 shares of the utilities provider’s stock valued at $2,984,000 after acquiring an additional 16,454 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of FirstEnergy by 7.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,616,052 shares of the utilities provider’s stock worth $101,451,000 after purchasing an additional 173,630 shares during the last quarter. RMR Wealth Builders acquired a new stake in shares of FirstEnergy during the second quarter worth $82,000. Orion Portfolio Solutions LLC boosted its holdings in shares of FirstEnergy by 34.9% during the second quarter. Orion Portfolio Solutions LLC now owns 4,263 shares of the utilities provider’s stock worth $165,000 after purchasing an additional 1,102 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of FirstEnergy by 1.5% during the second quarter. California State Teachers Retirement System now owns 924,406 shares of the utilities provider’s stock worth $35,848,000 after purchasing an additional 13,731 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.
Shares of NYSE FE traded up $0.41 during trading on Wednesday, hitting $29.76. The company had a trading volume of 2,886,084 shares, compared to its average volume of 6,208,756. The company has a market cap of $16.13 billion, a P/E ratio of 24.00 and a beta of 0.27. FirstEnergy Corp. has a 52 week low of $22.85 and a 52 week high of $52.51. The business’s 50-day moving average is $29.01 and its 200 day moving average is $37.70. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.66 and a current ratio of 0.78.
FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.56 billion. FirstEnergy had a return on equity of 19.31% and a net margin of 6.10%. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, research analysts expect that FirstEnergy Corp. will post 2.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a $0.39 dividend. The ex-dividend date is Thursday, November 5th. This represents a $1.56 annualized dividend and a dividend yield of 5.24%. FirstEnergy’s dividend payout ratio is currently 60.47%.
FE has been the topic of several research reports. Barclays lowered FirstEnergy from an “overweight” rating to an “equal weight” rating and set a $37.00 target price on the stock. in a research report on Wednesday, July 22nd. Bank of America increased their target price on FirstEnergy from $36.50 to $37.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Morgan Stanley cut their target price on FirstEnergy from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. Wells Fargo & Company cut their target price on FirstEnergy from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Guggenheim lowered FirstEnergy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $51.00 to $36.00 in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $42.59.
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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