Elevated Capital Advisors LLC Reduces Holdings in FirstEnergy Corp. (NYSE:FE)

Elevated Capital Advisors LLC decreased its position in shares of FirstEnergy Corp. (NYSE:FE) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,441 shares of the utilities provider’s stock after selling 368 shares during the quarter. Elevated Capital Advisors LLC’s holdings in FirstEnergy were worth $685,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in FE. Van ECK Associates Corp grew its holdings in shares of FirstEnergy by 41.4% during the first quarter. Van ECK Associates Corp now owns 187,964 shares of the utilities provider’s stock worth $7,259,000 after buying an additional 54,990 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of FirstEnergy by 5.3% during the first quarter. Lord Abbett & CO. LLC now owns 1,335,364 shares of the utilities provider’s stock worth $51,572,000 after buying an additional 67,469 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of FirstEnergy by 3.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,317,521 shares of the utilities provider’s stock worth $50,422,000 after buying an additional 42,484 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of FirstEnergy by 214.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,567 shares of the utilities provider’s stock worth $2,841,000 after buying an additional 50,176 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in shares of FirstEnergy during the first quarter worth about $929,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FE. Bank of America raised their price target on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. KeyCorp raised their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday. Argus upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, September 20th. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and an average price target of $46.00.

FirstEnergy Trading Up 1.0 %

Shares of FirstEnergy stock opened at $44.27 on Thursday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. FirstEnergy Corp. has a 1 year low of $34.91 and a 1 year high of $44.97. The company has a market capitalization of $25.48 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.30 and a beta of 0.50. The business has a 50 day moving average price of $43.63 and a 200 day moving average price of $40.86.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the firm posted $0.47 EPS. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 3.84%. FirstEnergy’s dividend payout ratio is currently 97.70%.

FirstEnergy Company 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.