Pathstone Holdings LLC Grows Holdings in FirstEnergy Corp. (NYSE:FE)

Pathstone Holdings LLC raised its position in FirstEnergy Corp. (NYSE:FE) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,555 shares of the utilities provider’s stock after buying an additional 768 shares during the period. Pathstone Holdings LLC’s holdings in FirstEnergy were worth $1,533,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of FirstEnergy by 3.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,317,521 shares of the utilities provider’s stock valued at $50,422,000 after acquiring an additional 42,484 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of FirstEnergy by 52.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 87,811 shares of the utilities provider’s stock valued at $3,361,000 after purchasing an additional 30,309 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of FirstEnergy during the 2nd quarter worth $596,000. Vaughan David Investments LLC IL boosted its holdings in shares of FirstEnergy by 2.3% in the 2nd quarter. Vaughan David Investments LLC IL now owns 1,088,770 shares of the utilities provider’s stock worth $41,667,000 after buying an additional 24,512 shares during the last quarter. Finally, National Pension Service grew its position in FirstEnergy by 2.1% during the third quarter. National Pension Service now owns 854,697 shares of the utilities provider’s stock valued at $37,906,000 after buying an additional 17,462 shares during the period. Institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

FE has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group began coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target on the stock. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. 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 note on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, FirstEnergy presently has a consensus rating of “Hold” and an average price target of $45.91.

FirstEnergy Trading Up 0.8 %

Shares of FE opened at $42.62 on Friday. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97. The stock has a market cap of $24.56 billion, a PE ratio of 27.50, a P/E/G ratio of 2.27 and a beta of 0.51. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The business’s 50-day moving average price is $42.77 and its 200-day moving average price is $41.50.

FirstEnergy (NYSE:FE) last posted 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 firm had revenue of $3.73 billion for 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 was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. On average, equities analysts forecast that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 3.99%. FirstEnergy’s dividend 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.