CoreCap Advisors LLC Has $5.73 Million Holdings in FirstEnergy Corporation $FE

CoreCap Advisors LLC lifted its stake in FirstEnergy Corporation (NYSE:FE) by 2,268.6% in the second quarter, HoldingsChannel.com reports. The firm owned 120,491 shares of the utilities provider’s stock after purchasing an additional 115,404 shares during the quarter. CoreCap Advisors LLC’s holdings in FirstEnergy were worth $5,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in FirstEnergy by 11,305.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock valued at $81,699,000 after buying an additional 1,957,673 shares during the period. Vanguard Group Inc. increased its stake in shares of FirstEnergy by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock valued at $3,049,255,000 after acquiring an additional 761,157 shares during the last quarter. Intech Investment Management LLC raised its position in shares of FirstEnergy by 42.8% in the 4th quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock valued at $3,817,000 after acquiring an additional 25,571 shares during the period. BW Gestao de Investimentos Ltda. bought a new position in FirstEnergy during the 4th quarter worth approximately $15,172,000. Finally, Brighton Jones LLC bought a new position in FirstEnergy during the 4th quarter worth approximately $256,000. 89.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on FE. New Street Research set a $52.00 target price on shares of FirstEnergy in a report on Tuesday, April 21st. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price target on shares of FirstEnergy in a report on Tuesday, April 21st. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Jefferies Financial Group lifted their target price on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Finally, UBS Group boosted their target price on FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, FirstEnergy has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $47.80 on Thursday. The firm has a market cap of $27.66 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46. The stock’s 50-day moving average is $47.68 and its 200-day moving average is $48.32. FirstEnergy Corporation has a one year low of $42.72 and a one year high of $52.34. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. Equities analysts predict that FirstEnergy Corporation will post 2.73 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 98.94%.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid?Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.