J.W. Cole Advisors Inc. Sells 411 Shares of FirstEnergy Corp. (NYSE:FE)

J.W. Cole Advisors Inc. lowered its stake in FirstEnergy Corp. (NYSE:FEGet Rating) by 4.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,048 shares of the utilities provider’s stock after selling 411 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in FirstEnergy were worth $369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gradient Investments LLC lifted its holdings in FirstEnergy by 4.6% in the first quarter. Gradient Investments LLC now owns 5,353 shares of the utilities provider’s stock valued at $245,000 after acquiring an additional 237 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of FirstEnergy by 3.5% in the first quarter. Rehmann Capital Advisory Group now owns 7,838 shares of the utilities provider’s stock worth $359,000 after buying an additional 263 shares during the period. CENTRAL TRUST Co raised its stake in shares of FirstEnergy by 10.7% in the first quarter. CENTRAL TRUST Co now owns 2,787 shares of the utilities provider’s stock worth $128,000 after buying an additional 270 shares during the period. Mystic Asset Management Inc. raised its stake in shares of FirstEnergy by 3.8% in the first quarter. Mystic Asset Management Inc. now owns 7,600 shares of the utilities provider’s stock worth $348,000 after buying an additional 275 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of FirstEnergy by 0.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,647 shares of the utilities provider’s stock worth $1,726,000 after buying an additional 308 shares during the period. Institutional investors own 87.20% of the company’s stock.

FirstEnergy Price Performance

NYSE:FE opened at $41.86 on Tuesday. The firm has a market capitalization of $23.92 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.69 and a beta of 0.44. FirstEnergy Corp. has a 1 year low of $35.32 and a 1 year high of $48.85. The business has a 50 day simple moving average of $39.71 and a 200-day simple moving average of $41.66. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.75 and a quick ratio of 0.66.

FirstEnergy (NYSE:FEGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. FirstEnergy had a return on equity of 15.13% and a net margin of 11.78%. During the same period last year, the business posted $0.59 earnings per share. Equities analysts forecast that FirstEnergy Corp. will post 2.41 EPS for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.73%. FirstEnergy’s dividend payout ratio is currently 63.41%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on FirstEnergy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 23rd. StockNews.com cut FirstEnergy from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Wells Fargo & Company cut their target price on FirstEnergy from $49.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, July 28th. Barclays cut their target price on FirstEnergy from $49.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Finally, KeyCorp cut their target price on FirstEnergy from $51.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.75.

FirstEnergy Profile

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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, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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