Moody National Bank Trust Division Acquires Shares of 7,648 FirstEnergy Corp. (NYSE:FE)

Moody National Bank Trust Division acquired a new stake in shares of FirstEnergy Corp. (NYSE:FEGet Rating) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,648 shares of the utilities provider’s stock, valued at approximately $294,000.

A number of other hedge funds have also recently bought and sold shares of FE. Dixon Hughes Goodman Wealth Advisors LLC grew its stake in FirstEnergy by 419.8% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 551 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 445 shares in the last quarter. Prospera Financial Services Inc acquired a new position in shares of FirstEnergy in the 1st quarter worth approximately $25,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. grew its position in shares of FirstEnergy by 126.3% in the 1st quarter. Pinnacle Bancorp Inc. now owns 611 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 341 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of FirstEnergy in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 87.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Mizuho decreased their target price on FirstEnergy from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, June 7th. Morgan Stanley lifted 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. KeyCorp decreased 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. Wells Fargo & Company cut their price target on FirstEnergy from $49.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Finally, StockNews.com downgraded FirstEnergy from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.75.

FirstEnergy Stock Up 1.6 %

Shares of FirstEnergy stock opened at $41.86 on Tuesday. The business’s fifty day moving average price is $39.71 and its two-hundred day moving average price is $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. The company has a market capitalization of $23.92 billion, a P/E 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.

FirstEnergy (NYSE:FEGet Rating) last announced its earnings results on Tuesday, July 26th. The utilities provider reported $0.53 earnings per share 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 quarter in the prior year, the company posted $0.59 EPS. As a group, research analysts forecast that FirstEnergy Corp. will post 2.41 EPS for the current year.

FirstEnergy Announces Dividend

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

FirstEnergy Profile

(Get Rating)

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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