4,617 Shares in FirstEnergy Corp. (NYSE:FE) Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC bought a new position in shares of FirstEnergy Corp. (NYSE:FE) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 4,617 shares of the utilities provider’s stock, valued at approximately $205,000.

Other hedge funds have also recently bought and sold shares of the company. Balanced Wealth Group LLC raised its position in FirstEnergy by 0.9% in the 3rd quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider’s stock valued at $1,186,000 after purchasing an additional 241 shares in the last quarter. Sachetta LLC raised its position in FirstEnergy by 36.0% in the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 246 shares in the last quarter. Commonwealth Financial Services LLC raised its position in FirstEnergy by 4.4% in the 2nd quarter. Commonwealth Financial Services LLC now owns 5,869 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 249 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in FirstEnergy by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 44,441 shares of the utilities provider’s stock valued at $1,701,000 after purchasing an additional 310 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in FirstEnergy by 16.2% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,243 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

NYSE FE opened at $41.69 on Tuesday. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.23 and a beta of 0.51. The business has a fifty day moving average of $43.07 and a 200-day moving average of $41.38. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE) last released its quarterly 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 company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. As a group, analysts predict that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

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 paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 4.08%. FirstEnergy’s payout ratio is currently 109.68%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FE. Jefferies Financial Group began coverage on FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 target price on the stock. Scotiabank raised their price target on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their target price on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Barclays lifted their price target on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.00.

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.