FirstEnergy Corporation $FE Shares Acquired by Electron Capital Partners LLC

Electron Capital Partners LLC grew its stake in FirstEnergy Corporation (NYSE:FE) by 103.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,991,914 shares of the utilities provider’s stock after acquiring an additional 1,519,737 shares during the period. FirstEnergy comprises 5.9% of Electron Capital Partners LLC’s investment portfolio, making the stock its 4th biggest holding. Electron Capital Partners LLC owned approximately 0.52% of FirstEnergy worth $151,570,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in FE. Eurizon Capital SGR S.p.A. purchased a new stake in shares of FirstEnergy in the 4th quarter valued at $123,018,000. BROOKFIELD Corp ON acquired a new stake in shares of FirstEnergy during the fourth quarter worth about $110,332,000. Boston Partners boosted its stake in shares of FirstEnergy by 13.5% in the third quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock valued at $841,161,000 after purchasing an additional 2,185,400 shares during the period. Victory Capital Management Inc. grew its holdings in shares of FirstEnergy by 56.0% in the fourth quarter. Victory Capital Management Inc. now owns 5,506,251 shares of the utilities provider’s stock valued at $246,515,000 after purchasing an additional 1,977,504 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 purchasing an additional 1,957,673 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

Shares of FE opened at $49.36 on Tuesday. The stock has a market cap of $28.55 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 2.39 and a beta of 0.47. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.52 and a quick ratio of 0.42. FirstEnergy Corporation has a 1-year low of $41.30 and a 1-year high of $52.34. The firm has a fifty day moving average price of $47.31 and a 200 day moving average price of $48.16.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $3.80 billion. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. As a group, sell-side analysts anticipate that FirstEnergy Corporation will post 2.73 EPS for the current year.

FirstEnergy Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, August 7th. This represents a $1.86 annualized dividend and a dividend yield of 3.8%. FirstEnergy’s dividend payout ratio is 101.09%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FE shares. Barclays raised their price target on shares of FirstEnergy from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. New Street Research set a $52.00 price objective on FirstEnergy in a research note on Tuesday, April 21st. Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, July 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $55.00 price target on shares of FirstEnergy in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group boosted their price objective on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.92.

About FirstEnergy

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.