Intech Investment Management LLC Has $1.69 Million Position in FirstEnergy Corp. (NYSE:FE)

Intech Investment Management LLC boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 35.2% during the third quarter, Holdings Channel reports. The institutional investor owned 38,015 shares of the utilities provider’s stock after acquiring an additional 9,895 shares during the quarter. Intech Investment Management LLC’s holdings in FirstEnergy were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of FE. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of FirstEnergy by 3.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,317,521 shares of the utilities provider’s stock valued at $50,422,000 after purchasing an additional 42,484 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of FirstEnergy by 52.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 87,811 shares of the utilities provider’s stock valued at $3,361,000 after purchasing an additional 30,309 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of FirstEnergy in the 2nd quarter valued at $596,000. Vaughan David Investments LLC IL boosted its stake in shares of FirstEnergy by 2.3% in the 2nd quarter. Vaughan David Investments LLC IL now owns 1,088,770 shares of the utilities provider’s stock valued at $41,667,000 after purchasing an additional 24,512 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of FirstEnergy by 2.1% in the 3rd quarter. National Pension Service now owns 854,697 shares of the utilities provider’s stock valued at $37,906,000 after purchasing an additional 17,462 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of NYSE:FE opened at $42.04 on Tuesday. The stock has a market capitalization of $24.23 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.25 and a beta of 0.51. FirstEnergy Corp. has a 1-year low of $35.41 and a 1-year high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The business has a 50-day moving average price of $42.83 and a two-hundred day moving average price of $41.47.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share 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 the consensus estimate of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. Equities analysts predict that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Dividend Announcement

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 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 dividend yield of 4.04%. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Analyst Ratings Changes

Several equities research analysts have recently commented on FE shares. Bank of America boosted their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Scotiabank lifted their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Jefferies Financial Group assumed coverage on FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. Finally, Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.91.

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.