Larson Financial Group LLC Has $1.40 Million Position in FirstEnergy Corp. (NYSE:FE)

Larson Financial Group LLC lifted its holdings in FirstEnergy Corp. (NYSE:FE) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,492 shares of the utilities provider’s stock after buying an additional 402 shares during the period. Larson Financial Group LLC’s holdings in FirstEnergy were worth $1,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors increased its stake in 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 buying an additional 9,773,785 shares during the period. Boston Partners raised its holdings in shares of FirstEnergy by 2.3% during the first quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock worth $367,423,000 after acquiring an additional 218,165 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in FirstEnergy by 0.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,930,826 shares of the utilities provider’s stock valued at $344,908,000 after purchasing an additional 82,482 shares during the last quarter. First Pacific Advisors LP grew its stake in FirstEnergy by 1.3% in the fourth quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock valued at $127,623,000 after purchasing an additional 45,350 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in FirstEnergy by 20.6% in the 4th quarter. 1832 Asset Management L.P. now owns 3,454,376 shares of the utilities provider’s stock worth $126,637,000 after purchasing an additional 590,815 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.5 %

Shares of FE stock opened at $44.54 on Thursday. FirstEnergy Corp. has a 12 month low of $32.18 and a 12 month high of $44.80. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The firm has a market cap of $25.63 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49. The stock has a 50 day moving average of $41.20 and a 200-day moving average of $39.41.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities analysts predict that FirstEnergy Corp. will post 2.71 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, August 7th. FirstEnergy’s dividend payout ratio is 97.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays increased their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Wells Fargo & Company boosted their price target on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America increased their price objective on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Mizuho boosted their target price on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.27.

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.