73,305 Shares in FirstEnergy Corp. (NYSE:FE) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in FirstEnergy Corp. (NYSE:FE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 73,305 shares of the utilities provider’s stock, valued at approximately $3,251,000.

A number of other large investors also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. boosted its stake in shares of FirstEnergy by 1,138.9% in the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 615 shares during the period. Livelsberger Financial Advisory acquired a new stake in FirstEnergy during the 3rd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new position in FirstEnergy in the 2nd quarter valued at approximately $32,000. Western Pacific Wealth Management LP purchased a new position in FirstEnergy in the 1st quarter valued at approximately $36,000. Finally, West Oak Capital LLC acquired a new position in shares of FirstEnergy in the second quarter worth $38,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FE has been the topic of a number of analyst reports. Jefferies Financial Group assumed coverage on FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target on the stock. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, September 20th. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. KeyCorp increased their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Scotiabank lifted their price objective on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.91.

FirstEnergy Stock Down 1.0 %

Shares of FirstEnergy stock opened at $41.79 on Monday. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97. The company has a market cap of $24.08 billion, a P/E ratio of 26.96, a PEG ratio of 2.25 and a beta of 0.51. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm has a fifty day moving average of $42.87 and a two-hundred day moving average of $41.45.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (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 firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current 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 paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.07%. FirstEnergy’s dividend payout ratio (DPR) is presently 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.