207,782 Shares in FirstEnergy Corporation $FE Bought by Bryn Mawr Trust Advisors LLC

Bryn Mawr Trust Advisors LLC purchased a new stake in FirstEnergy Corporation (NYSE:FE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 207,782 shares of the utilities provider’s stock, valued at approximately $9,878,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FE. Vanguard Group Inc. raised its holdings in FirstEnergy by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock worth $3,049,255,000 after buying an additional 761,157 shares during the last quarter. Boston Partners grew its holdings in shares of FirstEnergy by 13.5% during the third quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock valued at $841,161,000 after buying an additional 2,185,400 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of FirstEnergy by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 13,463,298 shares of the utilities provider’s stock valued at $600,351,000 after buying an additional 126,834 shares during the last quarter. Invesco Ltd. increased its position in shares of FirstEnergy by 0.3% during the fourth quarter. Invesco Ltd. now owns 11,722,471 shares of the utilities provider’s stock worth $524,815,000 after acquiring an additional 34,014 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of FirstEnergy by 7.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,971,706 shares of the utilities provider’s stock worth $508,158,000 after acquiring an additional 694,449 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FE shares. New Street Research set a $52.00 target price on shares of FirstEnergy in a report on Tuesday, April 21st. Jefferies Financial Group boosted their price objective on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Wolfe Research downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings lowered FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Finally, UBS Group lifted their target price on FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy has a consensus rating of “Moderate Buy” and an average target price of $52.83.

FirstEnergy Stock Performance

NYSE FE opened at $47.42 on Friday. The company has a fifty day moving average price of $47.85 and a 200-day moving average price of $48.31. The firm has a market cap of $27.44 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.24 and a beta of 0.46. 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 Corporation has a 1 year low of $42.72 and a 1 year high of $52.34.

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

FirstEnergy Announces Dividend

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

FirstEnergy Company 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.