Wilmington Savings Fund Society FSB Purchases 19,457 Shares of FirstEnergy Corp. (NYSE:FE)

Wilmington Savings Fund Society FSB increased its position in shares of FirstEnergy Corp. (NYSE:FE) by 361.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,834 shares of the utilities provider’s stock after purchasing an additional 19,457 shares during the period. Wilmington Savings Fund Society FSB’s holdings in FirstEnergy were worth $1,101,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Livelsberger Financial Advisory bought a new position in FirstEnergy during the third quarter worth about $26,000. True Wealth Design LLC lifted its position in shares of FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in FirstEnergy in the 2nd quarter valued at $32,000. Quarry LP grew its position in FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 320 shares during the period. Finally, Sachetta LLC grew its position in FirstEnergy by 36.0% in the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 246 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on FE shares. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $45.00 to $50.00 in a research note on Thursday. Barclays boosted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America boosted their target price on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.27.

FirstEnergy Stock Down 0.1 %

Shares of FE opened at $40.27 on Friday. The firm has a market capitalization of $23.21 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.17 and a beta of 0.51. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The business’s fifty day moving average price is $42.13 and its two-hundred day moving average price is $41.61.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 EPS. On average, analysts predict that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 7th were paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.

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.