Asset Management One Co. Ltd. Has $12.97 Million Holdings in FirstEnergy Corp. (NYSE:FE)

Asset Management One Co. Ltd. boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,384 shares of the utilities provider’s stock after buying an additional 3,211 shares during the quarter. Asset Management One Co. Ltd. owned about 0.05% of FirstEnergy worth $12,967,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FE. ST Germain D J Co. Inc. increased its holdings in shares of FirstEnergy by 1,138.9% during the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 615 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in FirstEnergy during the third quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of FirstEnergy in the second quarter valued at approximately $32,000. Western Pacific Wealth Management LP bought a new position in shares of FirstEnergy in the first quarter valued at approximately $36,000. Finally, West Oak Capital LLC acquired a new stake in shares of FirstEnergy in the second quarter worth $38,000. 89.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FE. KeyCorp lifted their target price on shares of FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group began coverage on FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. Morgan Stanley lifted their price target on FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company increased their price objective on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Trading Down 0.8 %

Shares of FirstEnergy stock opened at $41.57 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The company’s fifty day moving average price is $43.51 and its two-hundred day moving average price is $41.19. FirstEnergy Corp. has a 52-week low of $34.92 and a 52-week high of $44.97. The firm has a market capitalization of $23.96 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.23 and a beta of 0.51.

FirstEnergy (NYSE:FE) last issued 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). The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. During the same quarter in the prior year, the firm posted $0.88 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts expect that FirstEnergy Corp. will post 2.69 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s payout ratio is 109.68%.

About FirstEnergy

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.