FirstEnergy Target of Unusually High Options Trading (NYSE:FE)

FirstEnergy Corp. (NYSE:FE) was the recipient of some unusual options trading on Monday. Investors purchased 6,197 put options on the company. This represents an increase of approximately 444% compared to the average daily volume of 1,140 put options.

FirstEnergy Stock Down 0.5 %

Shares of FE traded down $0.22 during midday trading on Monday, hitting $39.34. 767,081 shares of the company’s stock traded hands, compared to its average volume of 3,117,864. FirstEnergy has a 1 year low of $36.81 and a 1 year high of $44.97. The firm’s fifty day moving average is $39.95 and its 200-day moving average is $41.30. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.53 billion. As a group, sell-side analysts anticipate that FirstEnergy will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 4.52%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, May 7th. FirstEnergy’s dividend payout ratio is presently 104.71%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FE. UBS Group boosted their price target on FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley lowered their price target on FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday. Guggenheim lowered their price target on FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th. KeyCorp lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Finally, Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

Hedge Funds Weigh In On FirstEnergy

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of FirstEnergy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 65,843,901 shares of the utilities provider’s stock valued at $2,619,270,000 after acquiring an additional 508,570 shares during the period. Boston Partners increased its position in shares of FirstEnergy by 73.5% in the 4th quarter. Boston Partners now owns 16,503,080 shares of the utilities provider’s stock valued at $656,309,000 after acquiring an additional 6,991,866 shares during the period. Geode Capital Management LLC increased its position in shares of FirstEnergy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 12,527,440 shares of the utilities provider’s stock valued at $497,009,000 after acquiring an additional 329,049 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of FirstEnergy by 2.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock valued at $371,911,000 after acquiring an additional 220,433 shares during the period. Finally, Soroban Capital Partners LP increased its position in shares of FirstEnergy by 60.2% in the 4th quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider’s stock valued at $331,795,000 after acquiring an additional 3,133,083 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Company Profile

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.