FirstEnergy Corp. (NYSE:FE) Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 35.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,015 shares of the utilities provider’s stock after purchasing an additional 9,895 shares during the period. Intech Investment Management LLC’s holdings in FirstEnergy were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Livelsberger Financial Advisory acquired a new position in shares of FirstEnergy in the third quarter worth about $26,000. ST Germain D J Co. Inc. boosted its holdings 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 worth $26,000 after buying an additional 615 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of FirstEnergy in the second quarter worth about $32,000. Sachetta LLC boosted its holdings in shares of FirstEnergy by 36.0% in the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after buying an additional 246 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new position in shares of FirstEnergy in the first quarter worth about $36,000. Institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FE. Bank of America raised their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Jefferies Financial Group began coverage on shares of FirstEnergy in a report on Monday, October 14th. They set a “hold” rating and a $46.00 price target for the company. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company raised their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, FirstEnergy has a consensus rating of “Hold” and an average price target of $45.91.

FirstEnergy Price Performance

Shares of FE opened at $42.04 on Tuesday. The firm has a market cap of $24.23 billion, a PE ratio of 27.12, a PEG ratio of 2.25 and a beta of 0.51. The firm’s 50 day moving average price is $42.83 and its 200 day moving average price is $41.47. 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 Corp. has a twelve month low of $35.41 and a twelve month high of $44.97.

FirstEnergy (NYSE:FE) last released its quarterly 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 firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts expect that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.04%. FirstEnergy’s payout ratio is 109.68%.

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.