Elevated Capital Advisors LLC Trims Stock Position in FirstEnergy Corp. (NYSE:FE)

Elevated Capital Advisors LLC lessened its position in shares of FirstEnergy Corp. (NYSE:FE) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC raised its position in shares of FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the period. ST Germain D J Co. Inc. raised its position in shares of FirstEnergy by 1,138.9% during the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after buying an additional 615 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of FirstEnergy during the 3rd quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of FirstEnergy during the 2nd quarter valued at approximately $32,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of FirstEnergy during the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

NYSE:FE opened at $44.27 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The company has a fifty day simple moving average of $43.63 and a two-hundred day simple moving average of $40.86. The company has a market cap of $25.48 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.30 and a beta of 0.50. FirstEnergy Corp. has a 52 week low of $34.91 and a 52 week high of $44.97.

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

FirstEnergy Dividend Announcement

The company 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 dividend of $0.425 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.84%. FirstEnergy’s payout ratio is currently 97.70%.

Analyst Upgrades and Downgrades

FE has been the topic of a number of research analyst reports. Scotiabank boosted their target price on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Barclays boosted their target price on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Jefferies Financial Group initiated coverage on FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 target price on the stock. Morgan Stanley boosted their target price on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, FirstEnergy has an average rating of “Hold” and an average target price of $46.00.

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.