Mutual of America Capital Management LLC Reduces Position in FirstEnergy Corp. (NYSE:FE)

Mutual of America Capital Management LLC trimmed its position in FirstEnergy Corp. (NYSE:FE) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,109 shares of the utilities provider’s stock after selling 2,209 shares during the quarter. Mutual of America Capital Management LLC’s holdings in FirstEnergy were worth $2,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its position in FirstEnergy by 71.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,399 shares of the utilities provider’s stock valued at $865,000 after purchasing an additional 9,372 shares during the last quarter. Bessemer Group Inc. lifted its stake in FirstEnergy by 3.6% in the first quarter. Bessemer Group Inc. now owns 9,139 shares of the utilities provider’s stock worth $353,000 after acquiring an additional 315 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in FirstEnergy in the first quarter valued at $325,000. Bayesian Capital Management LP increased its position in FirstEnergy by 49.6% during the 1st quarter. Bayesian Capital Management LP now owns 88,400 shares of the utilities provider’s stock valued at $3,414,000 after purchasing an additional 29,300 shares during the period. Finally, Dynasty Wealth Management LLC bought a new position in FirstEnergy in the 1st quarter worth $617,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Stock Down 1.0 %

FE opened at $41.79 on Friday. The stock has a market capitalization of $24.08 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.27 and a beta of 0.51. The firm has a 50 day moving average price of $42.87 and a 200-day moving average price of $41.44. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Equities research analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s payout ratio is currently 109.68%.

Analyst Ratings Changes

FE has been the topic of several research analyst reports. Argus upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, September 20th. 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 for the company. Scotiabank lifted their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America increased their price objective on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a 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 given a buy rating to the company. Based on data from MarketBeat, FirstEnergy presently has an average rating of “Hold” and an average price target of $45.91.

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.