FirstEnergy Corp. (NYSE:FE) Position Cut by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC lowered its holdings in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,696 shares of the utilities provider’s stock after selling 252 shares during the period. Hexagon Capital Partners LLC’s holdings in FirstEnergy were worth $253,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at $31,000. Richardson Financial Services Inc. acquired a new stake in shares of FirstEnergy in the fourth quarter worth about $172,000. CCM Investment Advisers LLC bought a new stake in FirstEnergy during the fourth quarter worth approximately $9,867,000. SageView Advisory Group LLC lifted its stake in shares of FirstEnergy by 12.5% in the fourth quarter. SageView Advisory Group LLC now owns 16,185 shares of the utilities provider’s stock worth $595,000 after buying an additional 1,799 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in FirstEnergy by 4.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,980 shares of the utilities provider’s stock worth $1,099,000 after acquiring an additional 1,405 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays upped their price target on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America raised their price objective on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, September 20th. Wells Fargo & Company upped their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley increased their price objective on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus price target of $45.80.

View Our Latest Report on FE

FirstEnergy Trading Down 0.5 %

FE stock opened at $42.33 on Friday. The business has a fifty day moving average of $43.38 and a 200-day moving average of $40.50. The company has a market cap of $24.38 billion, a P/E ratio of 30.02, a PEG ratio of 2.24 and a beta of 0.50. FirstEnergy Corp. has a twelve month low of $34.73 and a twelve month high of $44.97. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52.

FirstEnergy (NYSE:FEGet Free Report) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the company posted $0.47 EPS. As a group, equities research analysts expect that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.02%. FirstEnergy’s dividend payout ratio is currently 120.57%.

FirstEnergy Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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