Investment Partners LTD. Acquires Shares of 2,474 FirstEnergy Corp. (FE)

Investment Partners LTD. acquired a new stake in FirstEnergy Corp. (NYSE:FE) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,474 shares of the utilities provider’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FE. Banco de Sabadell S.A increased its holdings in FirstEnergy by 0.9% during the second quarter. Banco de Sabadell S.A now owns 152,375 shares of the utilities provider’s stock worth $5,493,000 after buying an additional 1,401 shares during the last quarter. World Asset Management Inc increased its holdings in FirstEnergy by 5.3% during the third quarter. World Asset Management Inc now owns 31,834 shares of the utilities provider’s stock worth $1,183,000 after buying an additional 1,616 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its position in FirstEnergy by 15.1% during the second quarter. Beese Fulmer Investment Management Inc. now owns 13,697 shares of the utilities provider’s stock worth $492,000 after purchasing an additional 1,800 shares during the period. AI Financial Services LLC boosted its position in FirstEnergy by 2.1% during the second quarter. AI Financial Services LLC now owns 94,242 shares of the utilities provider’s stock worth $3,384,000 after purchasing an additional 1,947 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in FirstEnergy by 7.6% during the third quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the utilities provider’s stock worth $1,056,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 94.43% of the company’s stock.

FE has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, October 10th. Wells Fargo & Co reaffirmed a “buy” rating and set a $42.00 price objective (up from $41.00) on shares of FirstEnergy in a research report on Monday, September 17th. Bank of America lifted their price objective on shares of FirstEnergy from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Citigroup lifted their price objective on shares of FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 3rd. Finally, ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $39.90.



FE stock traded up $0.55 during midday trading on Monday, reaching $37.26. 5,213,767 shares of the company were exchanged, compared to its average volume of 5,106,964. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41. FirstEnergy Corp. has a one year low of $29.33 and a one year high of $39.01. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.29.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.09. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.82 billion. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. Research analysts anticipate that FirstEnergy Corp. will post 2.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.86%. FirstEnergy’s payout ratio is presently 46.91%.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

Further Reading: Bond

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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