FirstEnergy Corp. (NYSE:FE) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC lifted its position in FirstEnergy Corp. (NYSE:FE) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,916 shares of the utilities provider’s stock after acquiring an additional 288 shares during the period. Metis Global Partners LLC’s holdings in FirstEnergy were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in shares of FirstEnergy by 14.3% in the 1st quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock valued at $3,009,615,000 after acquiring an additional 9,773,785 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in FirstEnergy by 1,417.3% during the third quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock valued at $32,965,000 after purchasing an additional 694,313 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in FirstEnergy by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after purchasing an additional 457,231 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in FirstEnergy during the 2nd quarter worth about $14,933,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of FirstEnergy by 1,178.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 286,824 shares of the utilities provider’s stock valued at $10,977,000 after buying an additional 264,389 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group assumed coverage on FirstEnergy in a report on Monday, October 14th. They set a “hold” rating and a $46.00 target price on the stock. Morgan Stanley lifted their target price on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Scotiabank increased their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, September 20th. Finally, Barclays upped their price objective on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Price Performance

NYSE:FE opened at $41.51 on Monday. The stock has a 50 day moving average of $43.12 and a two-hundred day moving average of $41.36. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97. The firm has a market cap of $23.92 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 2.23 and a beta of 0.51. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, analysts expect that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.10%. FirstEnergy’s payout ratio is presently 109.68%.

FirstEnergy Company 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.