AdvisorNet Financial Inc Decreases Position in FirstEnergy Corp. (NYSE:FE)

AdvisorNet Financial Inc lowered its stake in shares of FirstEnergy Corp. (NYSE:FEGet Rating) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,094 shares of the utilities provider’s stock after selling 400 shares during the period. AdvisorNet Financial Inc’s holdings in FirstEnergy were worth $119,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dixon Hughes Goodman Wealth Advisors LLC boosted its holdings in FirstEnergy by 419.8% in the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 551 shares of the utilities provider’s stock worth $25,000 after buying an additional 445 shares during the period. Prospera Financial Services Inc bought a new position in FirstEnergy in the 1st quarter worth approximately $25,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in FirstEnergy in the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. boosted its holdings in 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 buying an additional 341 shares during the period. Finally, Riverview Trust Co bought a new position in FirstEnergy in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Mizuho cut their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, June 7th. Wells Fargo & Company cut their price target on shares of FirstEnergy from $49.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. Barclays cut their price target on shares of FirstEnergy from $49.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Morgan Stanley raised their price target on shares of FirstEnergy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, August 23rd. Finally, KeyCorp cut their price target on shares of FirstEnergy from $51.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.75.

FirstEnergy Stock Performance

FirstEnergy stock opened at $41.00 on Thursday. The firm’s fifty day moving average price is $39.96 and its 200-day moving average price is $41.64. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.75. The stock has a market cap of $23.43 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 2.59 and a beta of 0.44. FirstEnergy Corp. has a fifty-two week low of $35.32 and a fifty-two week high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last posted its quarterly earnings data 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 net margin of 11.78% and a return on equity of 15.13%. During the same quarter in the previous year, the company posted $0.59 EPS. On average, equities research analysts expect that FirstEnergy Corp. will post 2.41 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Friday, November 4th. FirstEnergy’s payout ratio is presently 63.41%.

FirstEnergy Company 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.

Further Reading

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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