Entropy Technologies LP Invests $762,000 in FirstEnergy Corp. (NYSE:FE)

Entropy Technologies LP acquired a new position in FirstEnergy Corp. (NYSE:FE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,180 shares of the utilities provider’s stock, valued at approximately $762,000.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of FirstEnergy by 14.3% in 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 last quarter. Boston Partners boosted its stake in FirstEnergy by 2.3% during the first quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock worth $367,423,000 after buying an additional 218,165 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 purchasing an additional 457,231 shares during the last quarter. First Pacific Advisors LP lifted its stake in shares of FirstEnergy by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock valued at $136,152,000 after purchasing an additional 69,512 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of FirstEnergy by 7.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock valued at $104,288,000 after purchasing an additional 193,540 shares during the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FE shares. Argus raised 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. JPMorgan Chase & Co. upped their price target on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company upped their price objective on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Scotiabank upped their price objective on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.00.

FirstEnergy Stock Down 0.9 %

NYSE FE opened at $40.84 on Friday. The stock has a market cap of $23.54 billion, a PE ratio of 26.35, a PEG ratio of 2.23 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 Corp. has a twelve month low of $35.41 and a twelve month high of $44.97. The firm has a 50-day simple moving average of $43.25 and a 200 day simple moving average of $41.30.

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 the consensus estimate of $0.90 by ($0.05). The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. On average, research analysts forecast that FirstEnergy Corp. will post 2.69 EPS for the current year.

FirstEnergy Announces Dividend

The business 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 $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s payout ratio is presently 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.