Mutual of America Capital Management LLC Sells 2,209 Shares of FirstEnergy Corp. (NYSE:FE)

Mutual of America Capital Management LLC lessened its stake in shares of FirstEnergy Corp. (NYSE:FE) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 63,109 shares of the utilities provider’s stock after selling 2,209 shares during the period. Mutual of America Capital Management LLC’s holdings in FirstEnergy were worth $2,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Livelsberger Financial Advisory purchased a new position in shares of FirstEnergy during the 3rd quarter valued at $26,000. ST Germain D J Co. Inc. lifted its position in shares of FirstEnergy by 1,138.9% in the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 615 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of FirstEnergy in the second quarter worth about $32,000. Sachetta LLC grew its position in shares of FirstEnergy by 36.0% during the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in FirstEnergy during the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FE. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. KeyCorp raised their target price 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 upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, September 20th. Scotiabank raised their price objective on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their target price on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and an average target price of $45.91.

FirstEnergy Stock Performance

NYSE FE opened at $41.79 on Friday. The business’s 50 day moving average price is $42.87 and its 200-day moving average price is $41.44. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97. The company has a market cap of $24.08 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.27 and a beta of 0.51. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data 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 the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. Sell-side analysts predict that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s payout ratio is currently 109.68%.

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.