FirstEnergy Corp. (NYSE:FE) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC trimmed its position in shares of FirstEnergy Corp. (NYSE:FE) by 24.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 997 shares of the utilities provider’s stock after selling 330 shares during the quarter. Venturi Wealth Management LLC’s holdings in FirstEnergy were worth $44,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FE. Capital World Investors increased its position in shares of FirstEnergy by 14.3% during the first quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock worth $3,009,615,000 after acquiring an additional 9,773,785 shares during the period. Boston Partners raised its position in FirstEnergy by 2.3% in the 1st quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock valued at $367,423,000 after purchasing an additional 218,165 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of FirstEnergy by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after buying an additional 457,231 shares during the period. First Pacific Advisors LP grew its position in shares of FirstEnergy by 2.0% during the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock worth $136,152,000 after buying an additional 69,512 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of FirstEnergy by 7.6% during the second quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock worth $104,288,000 after buying an additional 193,540 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FE has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Scotiabank boosted their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price target on the stock. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company raised 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Stock Up 1.7 %

FE stock opened at $41.52 on Friday. The company has a market cap of $23.93 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 2.22 and a beta of 0.51. The company has a fifty day moving average price of $43.18 and a 200 day moving average price of $41.30. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the company posted $0.88 earnings per share. FirstEnergy’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s payout ratio is currently 109.68%.

About FirstEnergy

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.