Sterling Capital Management LLC raised its position in FirstEnergy Corp. (NYSE:FE) by 37.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 65,707 shares of the utilities provider’s stock after acquiring an additional 17,751 shares during the period. Sterling Capital Management LLC’s holdings in FirstEnergy were worth $2,813,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new stake in FirstEnergy in the 2nd quarter valued at approximately $25,000. Clean Yield Group increased its position in shares of FirstEnergy by 1,184.0% during the 2nd quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares during the last quarter. Horan Securities Inc. acquired a new position in shares of FirstEnergy during the 2nd quarter worth approximately $28,000. Meeder Asset Management Inc. increased its position in shares of FirstEnergy by 805.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 604 shares during the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in shares of FirstEnergy during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.
Shares of FE stock traded down $0.06 during trading on Thursday, reaching $48.05. 79,560 shares of the company’s stock were exchanged, compared to its average volume of 3,476,667. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $25.68 billion, a PE ratio of 18.56, a PEG ratio of 3.17 and a beta of 0.21. FirstEnergy Corp. has a twelve month low of $35.33 and a twelve month high of $48.27. The firm’s fifty day moving average price is $45.44 and its 200-day moving average price is $43.00.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, November 6th. FirstEnergy’s payout ratio is presently 58.69%.
FE has been the topic of several recent analyst reports. Mizuho lowered their price target on FirstEnergy from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. TheStreet lowered FirstEnergy from a “b” rating to a “f” rating in a research report on Thursday, July 18th. KeyCorp reaffirmed an “overweight” rating and set a $46.00 price target on shares of FirstEnergy in a research report on Wednesday, June 5th. Finally, Zacks Investment Research lowered FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 price target on the stock. in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. FirstEnergy presently has a consensus rating of “Buy” and an average price target of $44.29.
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 owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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