15,132 Shares in FirstEnergy Corporation $FE Acquired by Leo Wealth LLC

Leo Wealth LLC bought a new stake in shares of FirstEnergy Corporation (NYSE:FE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,132 shares of the utilities provider’s stock, valued at approximately $656,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Axiom Investment Management LLC bought a new stake in shares of FirstEnergy during the 1st quarter worth $26,000. Western Wealth Management LLC acquired a new position in shares of FirstEnergy in the 1st quarter worth $37,000. Highland Investment Advisors LLC acquired a new stake in shares of FirstEnergy during the second quarter worth $35,000. Pinnacle Bancorp Inc. raised its position in shares of FirstEnergy by 44.4% during the first quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 232 shares during the period. Finally, Ascentis Independent Advisors acquired a new stake in shares of FirstEnergy during the first quarter worth $46,000. 89.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FE shares. Barclays decreased their price target on FirstEnergy from $54.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. New Street Research set a $47.00 price target on FirstEnergy in a research note on Tuesday, October 13th. BMO Capital Markets initiated coverage on FirstEnergy in a report on Monday. They set an “outperform” rating and a $50.00 price objective on the stock. Wall Street Zen raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of FirstEnergy from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.77.

FirstEnergy Trading Down 0.0%

NYSE FE opened at $46.13 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. FirstEnergy Corporation has a 1-year low of $42.67 and a 1-year high of $52.34. The firm’s fifty day simple moving average is $45.50 and its 200-day simple moving average is $47.45. The company has a market capitalization of $26.69 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.71 and a beta of 0.43.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, sell-side analysts anticipate that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be issued a dividend of $0.4650 per share. This represents a $1.86 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, November 6th. FirstEnergy’s payout ratio is currently 98.94%.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is an electric utility company focused on the transmission and distribution of electricity. Through its regulated utility subsidiaries, the company delivers power to residential, commercial and industrial customers and maintains the poles, lines, substations and other infrastructure that support electric service.

FirstEnergy’s distribution operations serve customers across parts of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. Its utility companies include Ohio Edison, The Illuminating Company, Toledo Edison, Jersey Central Power & Light, Met-Ed, Penelec, Penn Power, West Penn Power, Mon Power and The Potomac Edison Company.