FirstEnergy Corp. (NYSE:FE) Shares Sold by International Private Wealth Advisors LLC

International Private Wealth Advisors LLC decreased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,206 shares of the utilities provider’s stock after selling 277 shares during the period. International Private Wealth Advisors LLC’s holdings in FirstEnergy were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital World Investors grew its position in shares of FirstEnergy by 14.3% during the first quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock worth $3,009,615,000 after acquiring an additional 9,773,785 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in FirstEnergy by 1,417.3% in the third quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after purchasing an additional 694,313 shares during the period. UniSuper Management Pty Ltd grew its position in FirstEnergy by 63.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,328,210 shares of the utilities provider’s stock valued at $51,295,000 after buying an additional 515,458 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of FirstEnergy by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock worth $403,517,000 after buying an additional 457,231 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in FirstEnergy during the 2nd quarter valued at $14,933,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

FirstEnergy stock traded down $0.05 during midday trading on Thursday, reaching $41.17. The stock had a trading volume of 243,291 shares, compared to its average volume of 2,938,712. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97. The firm has a market capitalization of $23.73 billion, a PE ratio of 26.60, a P/E/G ratio of 2.23 and a beta of 0.51. The firm’s 50-day moving average price is $43.25 and its 200 day moving average price is $41.30.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.05). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. FirstEnergy’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.13%. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FE shares. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Bank of America lifted their price target on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Morgan Stanley increased their price objective on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. KeyCorp raised their price target on FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.00.

FirstEnergy 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.