True Wealth Design LLC Has $29,000 Position in FirstEnergy Corp. (NYSE:FE)

True Wealth Design LLC raised its stake in FirstEnergy Corp. (NYSE:FE) by 4,571.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654 shares of the utilities provider’s stock after acquiring an additional 640 shares during the period. True Wealth Design LLC’s holdings in FirstEnergy were worth $29,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of FirstEnergy during the 3rd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of FirstEnergy in the 2nd quarter valued at $32,000. West Oak Capital LLC bought a new position in shares of FirstEnergy in the 2nd quarter valued at $38,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of FirstEnergy during the 2nd quarter worth $38,000. Finally, Sachetta LLC lifted its position in shares of FirstEnergy by 36.0% during the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after buying an additional 246 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Down 2.3 %

NYSE FE opened at $41.59 on Tuesday. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $23.97 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. The business’s 50-day moving average price is $42.74 and its two-hundred day moving average price is $41.54.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. On average, analysts expect that FirstEnergy Corp. will post 2.67 EPS for the current year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Analysts Set New Price Targets

Several brokerages have commented on FE. Scotiabank boosted their target price on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. KeyCorp increased their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, September 20th. Bank of America upped their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group began coverage on FirstEnergy in a report on Monday, October 14th. They set a “hold” rating and a $46.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.91.

FirstEnergy Profile

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